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Wavelength is commonly designated by the Greek letter lambda (Î»). The concept can also be applied to periodic waves of non-sinusoidal shape. The term wavelength is also sometimes applied to modulated waves, and to the sinusoidal envelopes of modulated waves or waves formed by interference of several sinusoids.here L is the slit width, R is the distance of the pattern (on the screen) from the slit, and Î» is the wavelength of light used. The function S has zeros where u is a non-zero integer, where are at x values at a separation proportion to wavelength.
The symbol above the word wavelength in this diagram is the Greek Lambda. The ratio of the percentage change in an optionâs price to the percentage change in an underlying price. Lambda measures the change in option premiums for a percentage point change in the optionâs implied volatility.