To call up what is referred to as "Wireframe" mode for your clip in the Program Monitor, do one of the following:
Double click on the clip in the Program Monitor.
Click on the word "Motion" or on any of the other parameters in the Effect Controls panel
Set a custom keyboard shortcut for: Active Direct Manipulation in the Program Monitor
Once you have done so, you can manipulate the image's wireframe anywhere on the Program Monitor by dragging it, etc. You can see the wireframe become enabled by blue outlines, white dots at the corners and sides, and an anchor point icon in the middle of the clip. You can rescale the clip by dragging one of the targets at each corner and side. You can also use the wireframe mode to help stage and animate motion effects. See the User Guide for info on that here.
Note: Double-clicking the clip only works in the Program Monitor and does not work if you double click the clip in the Timeline.