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Hughie Morrison has warned leading ante-post contender Not So Sleepy is not guaranteed to run in Saturday's Betfair Hurdle at Newbury.
The East Ilsley handler is considering swerving the valuable Grade Three prize in favour of next month's Champion Hurdle at the Cheltenham Festival.
After running out an easy winner on his return to hurdles at Ascot in November, Not So Sleepy (Timeform rating 139p) followed up with an impressive victory back at the track in the Betfair Exchange Trophy before Christmas.
"Everything needs to be right and if there is any doubt, we will wait for Cheltenham.
"He is a horse that can give a negative quite easily. If Cheltenham was not down the road, we would not be having this discussion.
"He will go to Cheltenham if he is in one piece and in reasonable form, regardless what happens on Saturday."
Although Not So Sleepy, who would pick up a £100,000 bonus if he added to his Ascot success at Newbury, has had a hefty rise in the ratings, Morrison feels he still has plenty to prove to be a live contender in the Champion Hurdle.
Morrison added: "He has had a huge hike of 17lb, but he won an £85,000 race - he deserved it.
"It could well be proved they have over done it this Saturday, but 144 is not a huge rating for top hurdlers.
"He has got a lot to prove this weekend. The form book makes it look as though we have a stone to find (to be a Champion Hurdle horse).
"You don't win a Dee Stakes (on the Flat) as a three-year-old unless you have a bit of class. Maybe he has got his confidence back.
" Although Not So Sleepy still has a way to go to be considered among the best hurdlers in the country, Morrison believes his jumping has taken a big step forward from 12 months ago.
He added: "I always hoped he might be like this (over hurdles). We were slightly disappointed when he got beat first time out last year, then he won second time (out) and the third time I was disappointed.
"He has had some good days, but not as many as his ability would warrant.
"His jumping is improving all the time. He was very quick at his hurdles when he schooled before he ran at Ascot.
"It was very deep that day and he got from A to B. I didn't think he jumped that well, but when I came back and watched it, he did jump well.
" While Morrison is yet to make a final decision on Not So Sleepy's participation at the weekend, he is confident the ground will be in his favour should he run.
He added: "A flat course like that might not suit him. He might be better off with some undulations and I think Cheltenham might suit him better.
"He has won twice on heavy. You would think good ground jumping, which would be softish Flat ground, would be ideal."