wget help?

can someone please help in understanding this shell script?

wget --progress=dot:mega --cut-dirs=4 -r -c -nH -np --reject index.html*,icons/*.gif \
http://*****.oz.xxxxx.com:<portnum>/omcsm/releases/dew/${UPGRADE_VERSION}/

check

man wget
       --progress=TYPE           select progress gauge type.
       --cut-dirs=NUMBER          ignore NUMBER remote directory components.
  -r,  --recursive          specify recursive download.
  -c,  --continue                resume getting a partially-downloaded file.
  -nH, --no-host-directories      don't create host directories.
  -np, --no-parent                 don't ascend to the parent directory.
  -R,  --reject=LIST               comma-separated list of rejected extensions.