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The Isthm . 5. 56–58 is one of the few highly controversial cruxes in Pindar, though it may be an interpretative and not a textual one. The kernel of the ambiguity is in the expression ὄπιζ ἐλπὶδων. After examining the various interpretations my paper analyses the concept underlying the rare and quaint word ὄπιζ from Homer on, which turns out to be a strong visual metaphor in Pindar as well. My reading of the passage: nec labor ingens occaecatus est, nec tot sumptus, qui aciem spei excitaverunt is examined within the context of the poem, and the relevance of the keen visual metaphor prevalent in Pindar’s whole poetry is elucidated.