• bhagavān rudraḥ — Lord Rudra
  Bhagavān title retained. Even in the act of granting a self-destroying boon, Śuka does not strip Śiva of bhagavān. Gauḍīyas note: position and conduct can diverge — Śiva remains a great lord even in a great error.
• durmanāḥ iva — as if displeased
  Contiguous (durmanāḥ + iva). Iva = 'as if' — a deliberate hedge. The Bhāgavatam refuses to say Śiva was fully displeased; the chapter holds the inner state in shadow. He gives anyway.
• om iti — vibrating om (as assent)
  Contiguous (om + iti). Om = the syllable of consent. By uttering the sacred syllable, Śiva binds himself irrevocably. Gauḍīyas read this as the cost of speed: the binding 'yes' comes before the considered 'no.'
• prahasan — smiling broadly
  Present participle of pra-√has. The ironic smile of one who sees the trap closing on himself. The Bhāgavatam never makes Mahādeva a fool — he sees, smiles, and binds himself anyway, hostage to his own quick word.
• aheḥ amṛtam yathā — as nectar to a snake
  Contiguous (aheḥ + amṛtam + yathā). Iconic Bhāgavatam image: nectar fed to a serpent only strengthens its venom. The chapter's verdict on misplaced mercy.

A merchant, caught having promised more than he can deliver, smiles thinly and counts out the coin anyway because his word is his bond. Śiva utters om — yes — knowing the receiver is a snake and the milk is going into a serpent's hood. The Bhāgavatam shows the cost of the very fidelity to one's word that we usually praise.