i have the same thing u do! except that i havent been diagnosed with cyst yet but i felt the lump this morning. the weird thing is that it only hurts when i get my period. i just dont know what it could be.
get it checked out by a doctor. It may need to be biopsied, not sure if you could feel a cyst in your ovary. These can also be boils, and are notorious for going in that area because of moisture, and hairs becoming infected.
Could it be a hernia?
I recently had a hernia operation to repair a small hernia just near my bellybutton. For the most part you couldn't see anything but once or twice it would bulge out like a small lump...it wasn't painful but felt more like a bruise if you pressed on it.
So have it checked out...it may be a hernia