If you aren’t familiar with Post Formats please read this article on WordPress Codex. Hyper-X Theme supports 6 Post Formats for Blog Posts and 4 Post Formats for Portfolio Posts.
Blog Post Formats
Portfolio Post Formats
Please note that Featured image is REQUIRED for all Post Formats, except Video and Gallery formats on Blog. Each post format has its unique options and when you change them from one to another you will notice that Post Format metabox options will change acordingly. Let me explain you these options one by one:
Standard – this is default Post Format, which displayes Feutured Image and Post Content only. For this format you can exclude Featured Image on the single post page.
Audio – this format supports Embed and Self-hosted audio types. For Audio type: Embed you should copy-paste Audio Embed Code (SoundCloud) in the given textarea, but for Audio type: Self-hosted you should upload files in .mp3 and .ogg formats, if you want your Audio Post to be displayed in all browsers correctly.
Audio Type: Embed
Audio Type: Self-hosted
Video – this format is quite the same as Audio, but in case of Video Type: Self-hosted you should upload files in .mp4 and .ogv formats.
Video Type: Self-hosted
Gallery – this format supports Slideshow and Stacked gallery types. You can add images via clicking Add Image button which opens Add Media popup, then upload them from your local machine or load them from your media library. Also you can Add, Remove or Edit images any time you want. It’s important to know that image Title will be used on image Captions for Slideshow and Stacked Gelleries. You can manage them from your Media Library or via clicking on button which links to an image editing screen.
Link – this format supports Link Description, Link Title (may be author) and actual URL fields. Note that URL will be attached only to the Link Title.
Quote – this format is quite the same as Link, but it doesn’t require additional URL field.