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.
Futures: Futures (also called Futures Contract) is a legally binding agreement to buy or sell a commodity or financial instrument at a later date. Futures contracts are normally standardized according to the quality, quantity, delivery time and location for each commodity, with price as the only variable.
Speculator: Speculator is a market participant who tries to profit from buying and selling futures and options contracts by anticipating future price movements. In commodity futures, Speculator is an individual who does not hedge, but who trades with the objective of achieving profits through the successful anticipation of price movements. Speculators assume market price risk and add liquidity and capital to the futures markets.
Trend: Trend is the general direction, either upward or downward, in which prices have been moving.
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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.