I had randomly clicked onto the link when I saw these three things added onto the Write New Story.

Definitions:

Draft: Save your story without publishing it. The story will be unlisted and cannot be publiciy found in your authored stories in your profile.

Unlisted: Your story will not be searchable in the browse setting but can be found, publicy found, in your list of authored stores in your profile. Automatically selected if story is marked as a draft.

Member Access Only: Your story will only be accessible to users that are signed in.