As Applied to the Futures Markets, the Basis Is the

As applied to the futures markets, the basis is the

A) difference between the price of a security and the price of a futures contract on the security.
B) gain or loss from hedging with futures contracts.
C) difference between a futures contract price and the initial deposit required.
D) price paid for a futures contract after accounting for transaction costs.
E) price paid for an option contract.