This paper proposes a new empirical measure of 온라인 카드 게임, termed“온라인 카드 게임 delta.” An asset is considered liquid if it can be traded quickly, inlarge quantities at low cost with little impact on market price. Trade-offbetween asking price and sale intensity, is one of the most commoncharacteristics of assets. The new measure, 온라인 카드 게임 delta, empiricallycaptures this trade-off. We estimate 온라인 카드 게임 delta for sixty major stockslisted on the Korea Stock Exchange. We demonstrate that 온라인 카드 게임 delta is auseful measure of 온라인 카드 게임, with 온라인 카드 게임 level and its variability showingnegative and positive relation, respectively, with the asset's rate of return.The negative relationship shows premium for lack of 온라인 카드 게임 whereas thepositive one shows premium for 온라인 카드 게임 risk.