Butler has cracked NCAA men's basketball's top 25 for the first time since Lavall Jordan was named the head coach in 2017.
Butler (7-0) ranks 24th across the AP and coaches polls this week.
"We want to compete against the best and maximize ourselves," Jordan said. "I don't know what that will end up being. That's what we talk about behind the doors."
Butler comes off a 68-67 victory over Stanford Tuesday in Kansas City. Redshirt senior forward Sean McDermott suffered an ankle injury during the game but returned to the floor. Jordan said he is expected to play Tuesday against Ole Miss in Oxford. Tip-off is set for 7 p.m. ET.
"He's fine. He's been full go," Jordan said of McDermott. "I don't know if he's been 100%, but he hadn't had any limitations."
Jordan said redshirt freshman forward Markeese Hastings will dress for Tuesday's game in Mississippi, but his status remains questionable. Center Derrik Smits, a Zionsville native and graduate transfer from Valparaiso, is still out with a knee injury.