Christopher Latham Sholes to the "rest" position. This concept was later refined by Sholes and the resulting QWERTY layout is still used today on both typewriters and English language computer keyboards, although the jamming problem no longer exists. Sholes died on February 17, 1890 after battling tuberculosis for nine years, and is buried at Forest Home Cemetery in Milwaukee. Christopher Latham Sholes Christopher Latham Sholes (February 14, 1819 – February 17, 1890) was an American inventor who invented the QWERTY keyboard, and along with Samuel W. Soule, Carlos Glidden and John Pratt, has been contended as one of the inventors of the first
Black–Scholes model Currencies tend to have more symmetrical curves, with implied volatility lowest at-the-money, and higher volatilities in both wings. Commodities often have the reverse behavior to equities, with higher implied volatility for higher strikes. Despite the existence of the volatility smile (and the violation of all the other assumptions of the Black–Scholes model), the Black–Scholes PDE and Black–Scholes formula are still used extensively in practice. A typical approach is to regard the volatility surface as a fact about the market, and use an implied volatility from it in a Black–Scholes valuation model. This has been described as using "the wrong number