Caulfield Cup winner Boom Time has been given a one-kilogram penalty for the Melbourne Cup.

The David and Ben Hayes and Tom Dabernig-trained Boom Time caused an upset in Saturday's $3 million 2400m-handicap, carrying 52kg with Cory Parish aboard.

He earned a Melbourne Cup ballot exemption with his win at Caulfield and is scheduled to run in the famous 3200m-race on November 7 at Flemington where he will carry 53kg.

The Caulfield Cup was by far the biggest win for Parish who does a lot of work for the Lindsay Park stable and will get another big race opportunity on Boom Time.

"He'll ride him in the Melbourne Cup and he'll ride him well again," David Hayes, who also owns Boom Time, told RSN927.

Racing Victoria's chief handicapper Greg Carpenter said a 1kg penalty represented two lengths over 3200m.

"The Melbourne Cup provides a new challenge with a litany of possible rivals who did not run in the Caulfield Cup awaiting Boom Time at Flemington," Carpenter said.

Hayes said Boom Time's more fancied stablemate Ventura Storm pulled up with a possible hoof abscess after his unplaced Caulfield Cup run.

"I thought he would win and he had elite form going into it but he did pull up two out of five lame on Sunday morning and we can find a bit of heel pain," Hayes said.

"I think we'll sort that out. We'll get him back on track, hopefully he'll be back doing strong work at the end of the week."

He is hopeful Ventura Storm can still run in the Melbourne Cup.

"If I can get him to do a big, strong gallop on the course proper the Thursday before the Melbourne Cup, that will be the day we'll know if we're on track or not," Hayes said."

Fellow import Harlem is 34th in the Cup ballot and likely to head to the Lexus Stakes on Saturday week to try to force his way in.

Marmelo and defending champion Almandin at equal favourites at $6.50 while Boom Time is at $26.