Welcome rosegal
That little pod is a fertilized ovary (so you are partly correct
). That pod should get bigger and bigger if it has viable seeds in it. Now some pods will fall off (abort) if they have no viable seeds in them or if the plant becomes overly dry or it could fall off for many other reasons. It takes 30-60 days for a pod to mature and the seeds be ready to plant (or store). I'm sure someone else will chime in with more info but this is just a quick answer before I head out.