The Terrible Ones??

I always thought kids went through the stage of tantrums, whining, and general naughtiness when they were two. Well my little bundle of joy has decided to start a little early. He is 15 months and he can give any two year old a run for their money! Tantrums don't bother me too much, because I can just ignore him and he stops after about 15 seconds, but how in the world do you punish a one year old??!! There is no way that he would understand a time-out, and when I tell him "no" in a stern voice, he just laughs at me. Don't get me wrong, he is a really good little kid, but sometimes I think he just gets bored so he gets into stuff he knows he shouldn't. I really need to figure out some activities we can do at home that will keep him occupied and interested. All he wants me to do with him is chase him around the house, and that gets old for me real fast! Oh how I long for a back yard that I could just let him loose in. I can't even imagine how wonderful that would be! Anyone have any fun, educational activities that I can do with my rambunctious one-year-old?