Select the Record event checkbox. The window will expand with additional options:

Segment max: If your live event is more than one hour in length, users can split the event into multiple segments. Users can choose 1-4 hours for a segment length.

Save options: You have the option to save the recording forever, or save it for a specific number of days. If setting the time period for a specific number of days, after that time period, the VOD clip will be deleted.

Video Title Template: If your event is a repeating event such as a daily show, use standard php date formats in this field to populate any desired date string. This field if populated will set the title of the created recording. If left blank, the title of the event is used for the recording.