Code of Honor, who was elevated from third to second in Saturday’s Kentucky Derby, was scheduled to return to New York on Monday where trainer Shug McGaughey will evaluate the horse before deciding whether or not to run back in the Preakness at Pimlico on May 18.

McGaughey said he would consider running in the Preakness if he felt it wouldn’t impact Code of Honor's ability to compete in the major races in the 3-year-old division later this year.

“I don’t want to compromise late summer and fall,” McGaughey said Sunday morning at Churchill Downs. “I don’t want to take him over there, knock him out and I look up and the Jim Dandy’s got five in it and he’d be 3-5.”

McGaughey does not plan on running Code of Honor in the Belmont Stakes.

Code of Honor crossed the finish line third in the Kentucky Derby, 1 3-4 lengths behind Maximus Security. He was placed second when the stewards disqualified Maximum Security for interfering with War of Will and Long Range Toddy in the vicinity of the five-sixteenths pole.

Officially, Code of Honor had a head in front of Maximus Security at the quarter pole.

“I think when they straightened Maximum Security up, he kind of maybe intimidated us a little bit and Johnny [Velazquez] told me Code of Honor saw the same thing [Maximum Security did] and then he had a little trouble getting him going again. He said he tried to come back a bit. I was proud of his effort.”

Code of Honor was scheduled to leave Churchill Downs by van on Sunday and arrive at Belmont on Monday.