Porkbun Auto Renewal Setting for New Registrations

Porkbun states:
“By default, we turn auto renew on for newly registered domains. You can set the default to have auto renew turned off here. This does not affect currently registered domains or additional services such as hosting.”

Should I set this option to “on” (green) or “off” (red) to disable auto renewal for new domains? I’m a bit confused by their explanation and would appreciate clarification from anyone familiar with Porkbun. Thanks!