The length of the "record" is determined by the periphal device and media.
Note that the computer does not automatically run the loaded record. The operator must press Run, possibly after performing additional preparation.
The contents of the bootstrap record is entirely up to the operator/programmer. It may be a stand-alone program or the first in a series of loaders eventually running a program, monitor, or operating system. Depending on the contents of the bootstrap record, additional manual steps may be required to complete the boot process. The load/run address must be known and entered before BOOTSTRAP, although typically that is 0000000.
Because peripherals do not transfer puncuation, some other method must be used to restore the punctuation to the code before running it. One method is to prepend the code with SW (and SI) instructions - which do not require punctuation when used in "format a". If the bootstrap record contains more sophisticated code, subsequent loads mey use something like BRT (Binary Run Tape) formats to restore code and punctuation (and other artifacts).
After this, the line printer starts printing. So, the BOOTSTRAP should have caused the first punch card to be loaded into address 00000. RUN would have started executing the bootstrap code. The bootstrap code either loads another program, or possibly is itself the code that prints information on the line printer. We don't know if that information comes from subsequent punch cards or from the mag tape he mounted.
In the story, it is likely that the mag tape was meant to contain encrypted data and so perhaps there was a decryption program on punch cards that processed the data. Of course, no where does he enter a decryption key so the data was not really very secure - but one required both the tape and the deck of cards in order to decrypt it.
A clip of this scene is on YouTube here.
In the full movie scene, his actions continue:
Obviously, the story is that he is clandestinely changing the official orders. But, this procedure (replacing some punch cards) would imply that the orders exist on the punch cards - which raises questions about why there is a mag tape. Also, the pages he removes from the printer do not contain the first orders, but are full of some other text likely not related. Certainly, the scene was never intended to be scrutinized closely by computer professionals. But, it does contain a surprisingly accurate procedure.
The original orders read:
ORDERS FOR PICCOLO - AGENT WILL ARRIVE ON STEPS OF RUSSIAN CHURCH ON KANAVAKATU AT EXACTLY 1600 HOURS TODAY WEARING MILITARY UNIFORM. ELIMINATE - CONFIRM.
The changed orders read:
ORDERS FOR PICCOLO - CONTACT POTENTIAL AGENT ON STEPS OF RUSSIAN CHURCH ON KANAVAKATU AT EXACTLY 1600 HOURS TODAY WEARING MILITARY UNIFORM. CONFIRM.
Note, there is a Russian-Orthodox Cathedral (Uspenski Cathedral) facing Kanavakatu street in Helsinki, Finland.