The set of all values of $\lambda$ for which the equation $\cos ^ { 2 } 2 x - 2 \sin ^ { 4 } x - 2 \cos ^ { 2 } x = \lambda$ has a solution is:
(1) $[ - 2 , - 1 ]$
(2) $\left[ - 2 , - \frac { 3 } { 2 } \right]$
(3) $\left[ - 1 , - \frac { 1 } { 2 } \right]$
(4) $\left[ - \frac { 3 } { 2 } , - 1 \right]$