Commercial: Commercial is an entity that is involved in the production, processing, or merchandising of a commodity.
Commodity: A commodity, as defined in the Commodity Exchange Act, includes the agricultural commodities enumerated in Section 1a(4) of the Commodity Exchange Act, 7 USC 1a(4), and all other goods and articles, except onions as provided in Public Law 85-839 (7 USC 13-1), a 1958 law that banned futures trading in onions, and all services, rights, and interests in which contracts for future delivery are presently or in the future dealt in.
Spot: Spot usually refers to a cash market for a physical commodity where the parties generally expect immediate delivery of the actual commodity.
Terminal Market: Terminal Market is usually synonymous with commodity exchange or futures market, specifically in the United Kingdom.
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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.