Answer: D

Holding fee, also known as holding cost, refers to the total of storage fees, insurance premiums, interest and other expenses paid for owning or retaining a certain commodity, asset, etc. . The level of the holding fee is related to the length of time until the futures contract expires. The closer to the delivery time, the lower the holding fee. In theory, when a futures contract expires, the holding fee will reduce to zero and the basis will also become zero.