Typing with in a circle

What i would do is draw out your circle, make a new blank layer above the circle, select the Type Tool, type your HS.

Then Ctrl or Cmd click on the circle layer thumbnail in the layers panel to load a selection of the circle.

Then with the Type layer selected in the layers panel, selected the Move Tool and click the Align Vertical Centers and Align Horizontal Centers buttons to center your HS in the circle.

This is how I'd do:

1. Create a new layer by clicking on the Create a new layer button at the bottom of the Layers panel
2. Select the Ellipse tool from the toolbar
3. Set the tool mode to Shape in the options bar
4. Set the fill colour to grey by clicking on the Fill colour chip
5. Draw a circle (with shift key to create a perfect circle)
6. Create a new layer by clicking on the Create a new layer button at the bottom of the Layers panel
7. Select the Type tool from the toolbar
8. Set the typeface, weight, size, alignment, colour in the options bar
9. Click inside the circle you draw and type in “HS”