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Diff btwn "closed" and "saved" auctions

I'd like to create a new listing from an old one. The old listing (the auction was successful) is listed as Closed. When I pull it up, I have the option to "Edit and Relist", but not to "Create Similar".

Meanwhile, when I pull up "Create Similar", that's not one of the listings that's on the pull-down menu.

Can I convert the Closed auction to a Saved one? What determines which listings become Saved?

If I use "Edit and Relist" to create a similar listing, does it screw up my records, as the system will record both listings as for the same item?
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