Possible to make a selection transparent?

I created a new 100mm square white image.

Then I added a 50mm diameter circle, centered it in the square, and stroked it black.

So now I have a black-bordered white circle inside a white square.

My question: If I now magic-wand select the area surrounding the circle, is is possible to make that area transparent?

There are better ways for getting where you want to go.

Create a new image the size you want, and set the Background Contents option to "Transparent" in the New Document" dialogue.

Set your Foreground color to White.

Use your Custom Shape-Ellipse tool, set for "Shape Layer." In the Options Bar dropdown menu, select "Fixed Size" and enter your 50mm values for width & height. Center your circle.

Now apply a Layer Style of "Stroke." Set your stroke options the way you want them.

Done, but editable if you decide you want to change it.

Thanks very much - your tip sounds to be just what I need. Basically, I was just trying to make a shape that I can drag onto other images.

Cheers :-)

Phos.., thanks again, that did the job brilliantly.

Just one thing; you said 'Center your circle'. Is there a way to do this centering precisely, instead of by guesswork?

Similarly, if I was to then add some text to the circle, is there a way to center the text precisely in the circle?

Cheers :-)

o

A1: Yes.
The way I do it: I've created an Action that draws out guidelines <http://home.comcast.net/~phoz/bbs/Guidelines.atn.zip> which intersect at the center of any size document window. I run that, and where they intersect is dead center. Then, using that point as a reference I can drag out a selection or shape from the center by holding the ALT/Option key.

• Alternately, select you Move Tool (V).
• Make sure the layer of the object you want to center is highlighted/active in the Layers Palette.
• Select All (CTRL + A), putting marching ants around the full size of the document window. • Now, looking at the Options Bar you'll see buttons which will align your layer's object with your selection. Clicking on both the Center Horizontally and then Center Vertically buttons will center your layer object in the document window.

A2: Yes. But it can be confusing if your text is created using your circle's path as the paragraph text box. To avoid this, either click OUTSIDE of the circle's path to create your text, or hold the SHIFT key when you initiate text inside the shape. Pay attention to how your Type Tool cursor changes when you hold & release the SHIFT key inside the path, and when you have your cursor outside the path.
OK, then...
• Create your text, and commit with the Enter key.
• CTRL + Click on the icon for the circle's shape mask in your Layers Palette. This will select just the circle.
• Make sure your Text layer is highlighted in the Layers Palette. • Choose the Move Tool.
• Use the Horizontal & Vertical Alignment buttons in the Options Bar.

That about covers it, but if these instructions are confusing please consult your HELP files for deeper info.

Again, thanks Phos! Absolutely excellent, and your action will be very helpful, not only now, but with later projects.

Re your remark:
"...but if these instructions are confusing please consult your HELP files for deeper info"......
LOL! There's only one outfit that creates worse help files than Adobe and that's M$. I could rave but I won't..hey, it's the Festive Season!

Thanks very much for your help and I hope you enjoy Christmas :-)