LOUISVILLE, Ky. — Nyquist has been made the early 3-1 favorite for the 142nd Kentucky Derby, with Exaggerator the second choice in the full field of 20 horses.

Trained by Doug O’Neill, Nyquist is undefeated in seven career races. The colt drew the No. 13 post on Wednesday. Four horses have won from there since 1900, most recently Smarty Jones in 2004. O’Neill, jockey Mario Gutierrez and owner Paul Reddam teamed to win the race in 2012 with I’ll Have Another.

Nyquist broke from the No. 13 post when he won the Breeders’ Cup Juvenile last year at Keeneland.

“The post draw didn’t matter to us a ton but we’re happy being more toward the outside for sure,” O’Neill said. “The whole team is pumped up. We’re just very optimistic for a big day.”

Exaggerator drew the No. 11 post and is 8-1 for the 1 1/4-mile race Saturday at Churchill Downs. He’s trained by Keith Desormeaux, whose Hall of Fame brother, Kent, will be aboard.

Creator, Gun Runner and Mohaymen are the co-third choices at 10-1. Creator will break from the No. 3 post with Gun Runner in the No. 5. Both are trained by Steve Asmussen. Mohaymen drew the No. 14 post.

Mor Spirit, trained by four-time Derby winner Bob Baffert, will break from the No. 17 post. No horse has won from there in the race’s previous 141 editions. Mor Spirit is 12-1, the same odds as Brody’s Cause, who drew No. 19.

Last year, Baffert won with American Pharoah, who swept the Derby, Preakness and Belmont Stakes to win the sport’s first Triple Crown in 37 years.

“The last time I had the 17 post was Point Given with Gary Stevens (fifth in 2001), and here we are again,” Baffert said. “I wanted the 16. All the speed is on the outside, so there will probably be two different races going on.”

The dreaded No. 1 spot that pins a horse to the inside rail coming out of the gate went to Trojan Nation, who has yet to win a race. Along with Trojan Nation, the other horse listed at 50-1 is Oscar Nominated, whose owners Ken and Sarah Ramsey put up a supplemental fee of $200,000 to get him into the race.

That fee boosted the Derby purse to $2,391,600 if 20 horses start. The winner would receive $1,631,000.

Japan’s entry, Lani, is listed at 30-1. The horse is known to be unpredictable in starting gate, and he will break from the No. 8 post.