Unallocated Hard Drive Question.

I recently installed my Windows on a new SSD and noticed my HDD is unallocated. I know little about PCs so I need some help. I want to use this Hard Drive to store music, videos, games, other softwares, etc. How can I make it available? The only options I have when right-clicking are:
New Simple Volume on the "bar"
and
Convert to Dynamic Disk
Convert to GPT Disk on the space where it says Disk 1
also they both have Options and Help.

I tried to go through the Simple Volume installation but I am worried I will do something wrong when I get to the Format Partition. What do the options on the Format Partition mean?

Thank You