12/13/2006 1:00AM

Pederson has a live pair

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SAN MATEO, Calif. - Come Friday night, trainer Dean Pederson will know a lot more than he did Friday morning.

He has runners entered in both of the day's features at Bay Meadows, a pair of first-level allowance races.

Wavy Lass has four rivals in a one-mile race for 2-year-old fillies. Osiris Lunus is one of 10 entered in a 1 1/16-mile race scheduled for turf, but is one of two entrants listed for the main track only.

Pederson said the soft condition of the turf course is the reason the 3-year-old Osiris Lunus was listed to run only on the main track. He finished fourth under jockey Chad Schvaneveldt in his turf debut in his last start.

"The other day he didn't run bad, but Chad said every time he asked him to run, his foot would sink into the turf course," Pederson said.

If the race is run on the main track, which could be wet, Osiris Lunus could have an advantage. As a son of Bertrando, his breeding hints Osiris Lunus will love the going as well as the distance.

"He always acted like a decent colt," Pederson said. "Every time, he gets a little better. He's progressing, but he needs to develop a killer instinct."

Should the race stay on turf, William T, who has two seconds and just scored a maiden victory on turf in his third career start, looks good. He usually sits in midpack and makes a strong move late.

A Firm Storm and Shining Day, second and third in front of Osiris Lunus last time, and Royal Okie, who just won on the turf for a $25,000 tag, add depth to the field.

Wavy Lass has won two straight sprints. She was claimed by Pederson for $12,500 in her maiden victory. She then won a starter allowance but was a troubled fifth in a good allowance sprint last out. Wavy Lass got caught behind runner-up Sego Lily, clipped heels and stumbled, with Sego Lily disqualified because of the incident.

"If she's going to be a good filly, she needs to handle two turns," Pederson said. "We'll see if she can be an allowance horse or needs to be dropped into a $25,000 claimer."

Also in the field are Costal Skimming, who has won two straight at the distance; Fillie by the Bay, who beat Wavy Lass last time; and Stormin Jo Jo, who has won around two turns on the turf.