I disagree. Instead of writing one letter variable names, one could do the hard work of naming things properly, which software developers often do. Instead of going with one letter or the name of that letter as variable name, which tells your fellow non-mathematicians exactly nothing about what it contains, one could put in the effort and make the code readable.
Using these one letter variables forces the reader of the code to either be already familiar with the concept, which that letter refers to, or keep the whole calculation in their head, until the final result, to hope, that they then can make sense of it. It is implicitly requiring outside knowledge. It is shutting out many potential readers of the code.
It might still be saved/helped though, if good prose comments are given, that help the reader understand the meaning of the one letter symbols. Whenever I have seen this one letter code salad, I have seen few if any comments, as if the author of the code expects me to magically know, what each symbol stands for.
Lets say omega was a vector of weights. Why not name it "weights"? That is much better naming than "omega" or that character, that most cannot easily input and need to copy paste from somewhere.