Style for the content area will be used to encompass your K2 item Style for the content title will be applied to your content title Style for the read more link will be applied to your read more link (if you have one) You can also set the style of all your links using the Link a field
the title of your item: {title} the intro of your article: {introtext} the full content of your article: {fulltext} the url of your article: {link} the category name of your article: {cattitle} the category alias of your article: {catalias}
Using all those variables, you can create your own content template.
Here is an example: