What's that fluid?

Sure do: that's called pre-ejaculate⁠ (pre-ejaculate: A fluid which the penis usually emits with or around erection and before ejaculation, sometimes more than once. Pre-ejaculate itself does not contain sperm, but in some cases, can pick up traces of sperm left in the urethra.) . Some people call it pre-cum.

Pre-ejaculate -- a clear, thin fluid -- appears from the penis⁠ (penis: One of the two external reproductive organs of people often assigned male at birth.) when a man becomes sexually aroused, and can come from the penis at the start or arousal⁠ (arousal: A state of sexual excitement and interest that sends messages to the brain which create physical changes and sensations, such as increased blood pressure, erection, lubrication, loosening of the vaginal or anal muscles, and increased physical sensitivity.) or erection⁠ (erection: When a body part, such as the penis or parts of the vulva, becomes filled with blood and enlarges and/or becomes more firm.) , during some sexual⁠ (sexual: About or relating in some way to sex or sexuality.) activities, as well as before a full ejaculation⁠ (ejaculation: In a sexual context, a discharge of genital fluid, usually (but not always) as a result of sexual stimulation and/or orgasm.) . It's secreted by the Cowper's glands.

It exists to basically get the urethra⁠ (urethra: The urinary tract, where people pee from. On a penis, the opening to the urethra is at the head of the penis; on a vulva, the opening is above the vaginal opening and below the external clitoris.) "ready" for sperm⁠ (sperm: Reproductive cells of people with penises which can fertilize an ovum and create pregnancy.) to come through viable in semen⁠ (semen: Fluid which comes from the urethra of the penis during ejaculation, and which usually contains sperm.) with an ejaculation: it neutralizes acidity in the urethra -- due to urine -- and also to lubricate the penis (and foreskin⁠ (foreskin: A loose tube of skin with nerve endings that extends from shaft of the penis to below the glans and which normally covers the head of the penis when it is not erect. ) , if your boyfriend's is intact). Sometimes it shows up in very small amounts, sometimes those amounts are larger.

It also CAN contain sperm, whether the penis is erect or not. Generally, it's understood that if a person with a penis has recently urinated, it is not likely to contain sperm, but that if they have not, or have recently masturbated, it can contain trace amounts of sperm which had remained in the urethra. Too, pre-ejaculate poses the same risks of infection⁠ (infection: When harmful microbes, or germs, or harmful levels of microbes/germs, enter the body and multiply, causing illness. The common cold, flu viruses, sexually transmitted infections, chickenpox, impetigo, rabies and diphtheria are some kinds of infections.) through body fluids as ejaculate does, so if a partner⁠ (partner: In a sexual context, a person with whom someone is having some kind of sex. The term "partner" can be used for all kinds of relationships, not just serious ones. "Partner" can also mean the person someone is with in a romantic or familial partnership.) with a penis has a sexually transmitted infection -- like HIV⁠ (HIV: A virus that attacks cells of the immune system, weakening the body’s ability to fight infections and diseases.) or Chlamydia -- and those fluids come into contact with your mouth or genitals⁠ (genitals: Body parts that are generally, culturally, scientifically or personally considered to be external sexual or reproductive organs.) , it can pose risks of both infections and pregnancy⁠ (pregnancy: The state of carrying a developing embryo or fetus within the uterus. Medically, someone is considered to be pregnant when an egg has been fertilized by sperm, cells divide, and the fertilized egg is implanted within the lining of the uterus.) .

Here's an article about the male sexual anatomy⁠ (anatomy: The body, parts of the body, or physical structure of organisms like people, animals or plants.) for more information as well as a good overview of your boyfriend's penis: Innies & Outies: The Penis, Testes, and More.

(Just FYI? Touching genitals IS sex⁠ (sex: Different things people choose to do to actively express or enact sexuality and sexual feelings; often this involves genitals, but not always. ) . It's not vaginal intercourse⁠ (vaginal intercourse: When a penis or sex toy is inserted into and held by the vagina while partners move their bodies as feels good to them for the purpose of either sexual stimulation and/or reproduction.) , for sure, but it is a form of sex, and carries the same sorts of emotional risks and complications as other kinds of sex, and can carry some of the physical risks. So, if you're not feeling ready for any kind of sex, I'd just make sure that you do feel okay, for real, about these kinds of sex. If you're not, know that it's always okay -- even if you've done some of this stuff already -- to ask for things to slow back down if this isn't feeling right for you.)