its probably is a form of sty (hordeolum). warm compresses twice a day helps. an eye doc could Rx something to make it go away quicker. depending on the location, you could be talking about your punctum:
http://www.snof.org/chirurgie/imagespaup/occptlacry1s.jpg
It's almost in that region but on the upper eyelid....how about wearing contacts? Would it be ok to wear them for a few hours a day and how long should i leave the compress on? Thanks again
its more of a white bump than an indentation like that photo