We are about to apply 12102 PSU1 (19392646) on a Standalone Cluster. This patch applies the patch to RDBMS home as part of opatchauto.
Here’s the output in case anyone wants to compare:

[root@ol64afd OPatch]# ./opatchauto apply -analyze /mnt/hgfs/12cGridSoftware/12102-PSU1/19392646 -ocmrf ocm/bin/ocm.rsp
OPatch Automation Tool
Copyright (c) 2014, Oracle Corporation. All rights reserved.

OPatchauto version : 12.1.0.1.5
OUI version : 12.1.0.2.0
Running from : /u01/app/oracle/product/12.1.0/grid

opatchauto log file: /u01/app/oracle/product/12.1.0/grid/cfgtoollogs/opatchauto/19392646/opatch_gi_2014-10-30_16-03-29_analyze.log

NOTE: opatchauto is running in ANALYZE mode. There will be no change to your system.

Parameter Validation: Successful

Grid Infrastructure home:
/u01/app/oracle/product/12.1.0/grid
RAC home(s):
/u01/app/oracle/product/12.1.0/database

Configuration Validation: Successful

Patch Location: /mnt/hgfs/12cGridSoftware/12102-PSU1/19392646
Grid Infrastructure Patch(es): 19303936 19392590 19392604
RAC Patch(es): 19303936 19392604

Patch Validation: Successful
Command “/u01/app/oracle/product/12.1.0/database/OPatch/opatch version -oh /u01/app/oracle/product/12.1.0/database -invPtrLoc /u01/app/oracle/product/12.1.0/grid/oraInst.loc -v2c 12.1.0.1.5” execution failed:
bash: /u01/app/oracle/product/12.1.0/database/OPatch/opatch: No such file or directory

For more details, please refer to the log file “/u01/app/oracle/product/12.1.0/grid/cfgtoollogs/opatchauto/19392646/opatch_gi_2014-10-30_16-03-29_analyze.debug.log”.

Apply Summary:

Following patch(es) failed to be analyzed:
GI Home: /u01/app/oracle/product/12.1.0/grid: 19303936, 19392590, 19392604
RAC Home: /u01/app/oracle/product/12.1.0/database: 19303936, 19392604

opatchauto failed with error code 2.
[root@ol64afd OPatch]#

Need to copy 12.1.0.2.1 OPatch into Grid_HOME and DB_HOME. Now re-run

[root@ol64afd OPatch]# ./opatchauto apply -analyze /mnt/hgfs/12cGridSoftware/12102-PSU1/19392646 -ocmrf ocm/bin/ocm.rsp
OPatch Automation Tool
Copyright (c) 2014, Oracle Corporation. All rights reserved.

OPatchauto version : 12.1.0.1.5
OUI version : 12.1.0.2.0
Running from : /u01/app/oracle/product/12.1.0/grid

opatchauto log file: /u01/app/oracle/product/12.1.0/grid/cfgtoollogs/opatchauto/19392646/opatch_gi_2014-10-30_16-05-43_analyze.log

NOTE: opatchauto is running in ANALYZE mode. There will be no change to your system.

Parameter Validation: Successful

Grid Infrastructure home:
/u01/app/oracle/product/12.1.0/grid
RAC home(s):
/u01/app/oracle/product/12.1.0/database

Configuration Validation: Successful

Patch Location: /mnt/hgfs/12cGridSoftware/12102-PSU1/19392646
Grid Infrastructure Patch(es): 19303936 19392590 19392604
RAC Patch(es): 19303936 19392604

Patch Validation: Successful

Analyzing patch(es) on “/u01/app/oracle/product/12.1.0/database” …
Patch “/mnt/hgfs/12cGridSoftware/12102-PSU1/19392646/19303936” successfully analyzed on “/u01/app/oracle/product/12.1.0/database” for apply.
Patch “/mnt/hgfs/12cGridSoftware/12102-PSU1/19392646/19392604” successfully analyzed on “/u01/app/oracle/product/12.1.0/database” for apply.

Analyzing patch(es) on “/u01/app/oracle/product/12.1.0/grid” …
Patch “/mnt/hgfs/12cGridSoftware/12102-PSU1/19392646/19303936” successfully analyzed on “/u01/app/oracle/product/12.1.0/grid” for apply.
Patch “/mnt/hgfs/12cGridSoftware/12102-PSU1/19392646/19392590” successfully analyzed on “/u01/app/oracle/product/12.1.0/grid” for apply.
Patch “/mnt/hgfs/12cGridSoftware/12102-PSU1/19392646/19392604” successfully analyzed on “/u01/app/oracle/product/12.1.0/grid” for apply.

Apply Summary:
Following patch(es) are successfully analyzed:
GI Home: /u01/app/oracle/product/12.1.0/grid: 19303936, 19392590, 19392604
RAC Home: /u01/app/oracle/product/12.1.0/database: 19303936, 19392604

opatchauto succeeded.
[root@ol64afd OPatch]# ./opatchauto apply /mnt/hgfs/12cGridSoftware/12102-PSU1/19392646 -ocmrf ocm/bin/ocm.rsp
OPatch Automation Tool
Copyright (c) 2014, Oracle Corporation. All rights reserved.

OPatchauto version : 12.1.0.1.5
OUI version : 12.1.0.2.0
Running from : /u01/app/oracle/product/12.1.0/grid

opatchauto log file: /u01/app/oracle/product/12.1.0/grid/cfgtoollogs/opatchauto/19392646/opatch_gi_2014-10-30_16-07-28_deploy.log

Parameter Validation: Successful

Grid Infrastructure home:
/u01/app/oracle/product/12.1.0/grid
RAC home(s):
/u01/app/oracle/product/12.1.0/database

Configuration Validation: Successful

Patch Location: /mnt/hgfs/12cGridSoftware/12102-PSU1/19392646
Grid Infrastructure Patch(es): 19303936 19392590 19392604
RAC Patch(es): 19303936 19392604

Patch Validation: Successful

Stopping RAC (/u01/app/oracle/product/12.1.0/database) … Successful
Following database(s) and/or service(s) were stopped and will be restarted later during the session: yoda

Applying patch(es) to “/u01/app/oracle/product/12.1.0/database” …
Patch “/mnt/hgfs/12cGridSoftware/12102-PSU1/19392646/19303936” successfully applied to “/u01/app/oracle/product/12.1.0/database”.
Patch “/mnt/hgfs/12cGridSoftware/12102-PSU1/19392646/19392604” successfully applied to “/u01/app/oracle/product/12.1.0/database”.

Stopping CRS … Successful

Applying patch(es) to “/u01/app/oracle/product/12.1.0/grid” …
Patch “/mnt/hgfs/12cGridSoftware/12102-PSU1/19392646/19303936” successfully applied to “/u01/app/oracle/product/12.1.0/grid”.
Patch “/mnt/hgfs/12cGridSoftware/12102-PSU1/19392646/19392590” successfully applied to “/u01/app/oracle/product/12.1.0/grid”.
Patch “/mnt/hgfs/12cGridSoftware/12102-PSU1/19392646/19392604” successfully applied to “/u01/app/oracle/product/12.1.0/grid”.

Starting CRS … Successful

Starting RAC (/u01/app/oracle/product/12.1.0/database) … Successful

Apply Summary:
Following patch(es) are successfully installed:
GI Home: /u01/app/oracle/product/12.1.0/grid: 19303936, 19392590, 19392604
RAC Home: /u01/app/oracle/product/12.1.0/database: 19303936, 19392604