Instead, an old technology paper was the most important mediator between the mathematics of the Black-Scholes-Merton model and what was sometimes the scrum of human bodies on trading floors. Away from the hubbub, computers were used to generate Black-Scholes prices. Those prices were reproduced on sets of paper sheets which floor traders could carry around, often tightly wound cylindrically with only immediately relevant rows visible so that a quick squint would reveal the relevant price.

Donald MacKenzie, An Engine, Not a Camera, loc. 716