Brief Answer:
As discussed in details below.

Detailed Answer:
Hi.
Thanks for your query, albeit short and specific.
To recapitulate: Female/41 - black watery discharge coming out of areola - noticed just now - wants to know what it is ...

I think the discharge is from the nipple and not the areola. Is it from areola or nipple? Please specify.

If the discharge is coming from only one breast, it needs more evaluation as the cause may not be hormonal.
First of all, try to give the discharge for lab for analysis. Stop pressing on more at the moment. Ask for microscopy and test for malignant cells.
There are so many causes for spontaneous discharge from the nipple.
Hence I would advise you the following:
Self examination of the breast by palpation and pinching to see if there is any lump or not.
Consult a General Surgeon for clinical evaluation, proper clinical examination by palpation of the breasts and axillae and get a reference for ultrasound and mammography. These tests are done to make sure if there is any underlying cause or not.
By this means it will be easy to know whether there is an underlying cause or not.
Be assured till anything positive is found. Do not be worried unnecessarily unless proved otherwise.
Please give feedback of the clinical evaluation and examination.

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Brief Answer:
Please get this diagnosed as early as possible.

Detailed Answer:
Thanks for your short feedback.
Rest of the management remains same.
Please get investigated as early as possible.

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