John Sadler believes the William Reid Stakes is wide open and it's an opinion that is reflected in the opening market for the Group One sprint.

Sadler has Vain Queen in the $400,000 race and the trainer rates the mare among the leading chances as she steps up to weight-for-age company for the first time.

"She is probably going to be one of the good chances in the race, although there will probably be quite a few of them. I see it being an open race," Sadler said.

Angelic Light holds early favouritism at $5 in the full field of 14 with Vain Queen at $5.50.

Peron, Earthquake and Rebel Dane are also under double-figure odds.

Vain Queen's best wins have been at Flemington where she has been successful in four of her five starts.

But keen to dodge the top echelon of sprinters in the Lightning Stakes and Newmarket Handicap held over the straight course, connections decided to aim her at the Oakleigh Plate at Caulfield and the William Reid.

She was fourth in the Oakleigh Plate and delighted Sadler with her track gallop at Moonee Valley on Monday.

Vain Queen won her only start at the track when she took out a mares' race in June last year.

"She's been to the Valley to work on a couple of occasions and has worked really well and she's been there once to race and she won," Sadler said.

"She's had a nice gap between her first-up run and this race and I can't see why she won't run really well."

Damian Lane partnered Vain Queen in the Oakleigh Plate but has since accepted a contract to ride in Hong Kong with Nick Hall to take over the reins on Friday night.

Angelic Light resumes in the race and has strong Moonee Valley form including a win over Lankan Rupee in a Group Two race last spring and a close second in the Manikato Stakes.

One of two runners for trainer Robbie Griffiths along with It Is Written, Angelic Light has drawn barrier four and will have Damien Oliver aboard.

"She's got a great jockey and a great barrier so there are a lot of pluses but it's a hot race," Griffiths said.

Sydney sprinter Rebel Dane has been narrowly beaten in three Group One starts at Moonee Valley and his trainer Gary Portelli is hoping for a change of luck from barrier seven.