bump on the outer part of my leg above my ankle

Hello! my name is Terri and i am 20 years old i have a question i was wondering if you guys could help me with. The past several years whenever i do a lot of walking, running, riding horses.. anything related to exercise really i get this bump on the outer part of my leg that sends shocks of pain up my leg. I was wondering if anyone has any idea what it could be.

Thanks for your help
 
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