Spot like lump on my penis. currently no puss but was previously to squeezing. lump is painful and on outer skin of penis. now shiny. what is it?

Must be examined: cannot diagnose without an actual exam and STD testing- make an appointment with your physician NOW!

Get evaluated: I would recommend getting evaluated by your internal medicine physician or family physician. You likely had an abscess if purulent discharge was coming out of it early on, concerning you may have had a cyst if you continue to have residual firmness in the same area and if it was a cyst, there may be an inner capsule that has to be removed by lancing the area again. Sensitive area, follow up soon.

Depends: If you have engaged in unprotected sex you need to be checked for STD. However, if it had pus in it that you squeezed out then it most likely is a boil caused by staph or other bacteria. Use warm compresses to help draw out infection and it should heal. If it spreads or just gets worse or doesn't heal, see a doctor. And again, if you've had sex, even just a blow job, get checked for STD.