Here you can adjust the spacing between each article. Instead of using spacing beneath the tab content, which is a set size, you can here yourself decide on the spacing.
Allow interaction with archive menu portlet
If you select this option, this news feed can be visible in an archive menu sorted by years and months when they were published. (See the archive menu portlet)
Allow interaction with event calendar portlet
Check this if you use the news portlet in connection with the event calendar.
It is normal for the articles to be sorted by publish date (ascending). Here you can change the sorting to descending by unchecking Sort ascending. Otherwise you can sort according to any metadata definition set up on the website. These are shown in a list when clicking the plus icon.