Apple Final Cut Pro 5 - Manual (Page 1146)

Chapter 18 Compositing and Layering 359
II
To adjust the opacity of a clip (with no keyframes) in the Timeline:
1 In the Timeline, click the Clip Overlays control.
2 Drag the opacity overlay up or down to adjust the setting.
To adjust the opacity of a clip with greater accuracy, press and hold down the
Command key while you change the height of the opacity overlay.
Note: The overlay appears as a black line if the clip is not selected and as a white line if
the clip is selected.
Clip Overlays control
The opacity overlay can
be dragged up or down
to adjust it.
The pointer changes to
the Adjust Line Segment
pointer when it’s directly
over the overlay.
The actual percentage
appears in this box.