Concept:Backwardation is a fee paid in the stock market when a seller fails to deliver shares on the agreed date.Explanation:When a speculator sells stocks but cannot deliver them on the settlement date, he pays the buyer a charge.This charge is called backwardation.It compensates the buyer for accepting delayed delivery of the stocks.In simple terms, backwardation is the amount paid by the seller for the right to postpone delivery.Answer:D. backwardation