Just over a week ago, i was told i had a corpus luteum cyst and my period might be late. my period just began today. does that mean the cyst is gone?

Not necessarily: A corpus luteum occurs normally every month & is the result of ovulation. This happens every month in women who are ovulating. Sometimes fluid/blood collects within the space on the ovary where the egg was released during ovulation. This may/may not be noticed (pain). Most often than not, these cysts go away on their own & nothing needs to be done for them. Your gyn may do a sono to follow it.