To move the light, drag the center circle.
To increase the light angle, drag the handle to shorten the line. To decrease the light angle, drag to lengthen the line.
To stretch the ellipse or rotate the light, drag one of the handles. Shift-drag to keep the angle constant and change only the size of the ellipse. Ctrl-drag (Windows) or Command-drag (Mac OS) to keep the size constant and change the angle or direction of the spotlight.
To set the light focus (or spotlight intensity) and control how much of an ellipse is filled with light, drag the Intensity slider: full intensity (a value of 100) is brightest, normal intensity is about 50, negative intensity takes away light, and –100 intensity produces no light. Use the Focus slider to control how much of the ellipse is filled with light.