You will learn how to make nice shiny Glassy Pill buttons. Easy and effective.
Glassy Pill buttons are really easy to make if you know the right technique. When you finish this tutorial you will have the knowledge to make your own glassy pill buttons, and you will even know how to tweak them to look exactly how you want…

Step 1.

Create new document, dimensions 200 x 100 pixels at 72 dpi. Create a new Layer by clicking button as shown in Image 1, selected with red box, or by pressing CTRL+Shift+N on keyboard.
Create New Layer
Image 1.
Now choose Rounded Rectangle Tool, as shown on Image 2. When you choost rectangle tool, take a look at top bar, and change “Radius:” to 0,5 cm. If you are seeing some other type of measurment units, something as px, or in, you will have to change it to centimeters so you can easily follow this tutorial. To change type of units you are using press CTRL+K or Click Edit -> Preferences -> General, then in the menu click on “General” and choose “Units and Rulers” and change “Rulers:” from what you have to “cm”.
Rounded Rectangle Tool
Image 2.
Draw rounded rectangle that has approximate size as shown on Image 3.
Rounded rectangle
Image 3.

Step 2.

Press D on your keyboard to reset foreground and background colors to defaults. Click on Paths under Layers palette, and click on “Fill path with foreground color” button as shown on Image 4.
Fill Path Button
Image 4.
Now you can delete that “Work path” by dragging it to that little trash icon in the bottom right of your screen (Paths palette).

Step 3.

Go back to Layers palette and select “Layer 1”, change it’s “Fill:” from 100% to 0%. Doubleclick on Layer 1 to get it’s Layer Style window opened. Click on Drop Shadow and enter values as on Image 5.
Drop Shadow
Image 5.

Step 4.

Then move to Inner Glow, and enter settings as shown on Image 6.
Inner Glow
Image 6.
Move on to “Bevel and Emboss”, select it and enter settings as on Image 7.
Bevel and Emboss
Image 7.
Notice that Gloss Contour looks like something that you don’t have defined so press on it’s thumbnail to make it look something like Image 8.
Gloss Contour
Image 8.

Step 5.

Check the Countour checkbox under Bevel and Emboss section, and click on Countour thumbnail, define it’s look as shown on Image 9.
Bevel Contour
Image 9.
Also, check Anti-aliased box, and set Range to 100%.

Step 6.

Check Satin checkbox and enter setting as shown on Image 10.
Image 10.
Click on OK to exit Layer Style window and confirm all changes.

Step 7.

This step is optional, however you can go with it, just to see what else you can try to do with your, new created, Glassy Pill Button. You can try to put it on some background just to see how it looks, add some color overlay to it and colorize it that way… there are many things you can do from here.
Final Image