  We present deep optical and X-ray follow-up observations of the bright unassociated Fermi-LAT gammaray source 1FGL J1311.7-3429. The source was already known as an unidentified EGRET source (3EG J1314-3431, EGR J1314-3417), hence its nature has remained uncertain for the past two decades. For the putative counterpart, we detected a quasi-sinusoidal optical modulation of delta_m\sim2 mag with a period of ~1.5 hr in the Rc, r' and g' bands. Moreover, we found that the amplitude of the modulation and peak intensity changed by > 1 mag and 0.5 mag respectively, over our total six nights of observations from 2012 March and May. Combined with Swif t UVOT data, the optical-UV spectrum is consistent with a blackbody temperature, kT \sim1 eV, and the emission volume radius Rbb\sim 1.5x10^4 km. In contrast, deep Suzaku observations conducted in 2009 and 2011 revealed strong X-ray flares with a lightcurve characterized with a power spectrum density of P(f) propto f^(-2) but the folded X-ray light curves suggest an orbital modulation also in X-rays. Together with the non-detection of a radio counterpart, and significant curved spectrum and non-detection of variability in gamma-rays, the source may be the second radio-quiet gamma-ray emitting milli-second pulsar candidate after 1FGL J2339.7-0531, although the origin of flaring X-ray and optical variability remains an open question. 
Toward Identifying the Unassociated Gamma-ray Source 1FGL J1311.7-3429   with X-ray and Optical Observations