Implied Volatility

The horse is a regular in Class 5 races, the lower tier of competitive racing, but has managed no wins from six attempts at that level. Jennie Candlish's Basford yard, which has been prolific this season with 64 winners already, has yet to unlock what Implied Volatility might need to break through. The partnership between the horse and regular rider George Wood tells a similar story: zero wins from six races together, despite their repeated attempts. There's a patience required in racing — a horse can be genuinely useful without ever quite getting its nose in front — but after a year of racing without success, Implied Volatility remains a horse still waiting for that first moment in the sun.