Chandra High-Resolution Camera Observations of the Luminous X-Ray Source in the Starburst Galaxy M82

We have analyzed Chandra High Resolution Camera observations of the starburst galaxy M82, concentrating on the most luminous x-ray source. We find a position for the source of $\rm R.A. = 09^h 55^m 50^s.2, decl. = +69^{\circ} 40\arcmin 46\arcsec.7$ (J2000) with a $1\sigma$ radial error of $0.7\arcsec$. The accurate x-ray position shows that the luminous source is not at the dynamical centre of M82 nor coincident with any suggested radio AGN candidate. The source is highly variable between observations, which suggests that the source is a compact object and not a supernova or remnant. There is no significant short term variability within the observations. Dynamical friction and the off-center position place an upper bound of $10^{5} - 10^{6} M_{\odot}$ on the mass of the object, depending on its age. The x-ray luminosity suggests a compact object mass of at least $500 M_{\odot}$. Thus, the luminous source in M82 may represent a new class of compact object with a mass intermediate between those of stellar mass black hole candidates and supermassive black holes.