Commercial: Commercial is an entity that is involved in the production, processing, or merchandising of a commodity.
Basis: Basis is the difference between the current cash price of a commodity and the futures price of the same commodity. In more details, the Basis is the difference between the spot or cash price of a commodity and the price of the nearest futures contract for the same or a related commodity. Basis is usually computed in relation to the futures contract next to expire and may reflect different time periods, product forms, grades, or locations.
Electronic Trading Facility: Electronic Trading Facility is a trading facility that operates by an electronic or telecommunications network instead of a trading floor and maintains an automated audit trail of transactions.
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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.