ETFs started trading on the Toronto Stock Exchange (TSE) in 1990 as "Toronto Index Participation Shares". The shares, which tracked the TSE 35 and later the TSE 100 stocks, has become popular very fast. The popularity of these products led the American Stock Exchange (AMEX) to try to develop similar product that would satisfy SEC regulation in the United States.
Naked options trading is very risky - many people lose money trading them. It is recommended contacting your broker or investment professional to find out about trading risk and margin requirements before getting involved into trading uncovered options.