What Does Lambda Mean?

The word Lambda is Greek and is of Phoenician origin. It refers to one of two, the eleventh letter found in the alphabets of the Greeks or a lambda baryon.

It is written as "λ" in the lower case and as "Л" in the upper case. In physics the alphabet in the lower case forms the symbol synonymous with wavelength. In business lingo a one per cent change in the option volatility and the comparative change in the price of the option are represented by a ratio known as a Lambda.

The word Lambda, in its uppercase and lower case forms can refer to a number of things including lambda particles found in particle physics, it was seen used as an emblem on the shields of the Spartans, planetary discrimination in astronomy, a Japanese rocket etc.