lambda

noun

1. The eleventh letter of the Classical and Modern Greek alphabet, the twelfth of the Old Greek alphabet.

2. Unit representation of wavelength.

3. The cosmological constant.

4. A lambda expression.

5. The junction of the lambdoid and sagittal sutures of the cranium

6. A lambda baryon

7. The percentage change in an option value divided by the percentage change in the underlying asset's price.