General manager Jeff Ireland said the Miami Dolphins are not waving the white flag on the 2012 season. In fact, Ireland hinted that the team, which just acquired a second-round pick for corner Vontae Davis, might be in the market for an immediate upgrade via trade.

"Everybody looks at draft picks (as if) you have to use them when the draft comes around," Ireland told the Palm Beach Post this week. "I’m not saying that there’s more to come, but I would just tell you that if something more would arise, you have ammunition. And you can use that ammunition any time you want to, now or in the future."

Assuming the Dolphins are looking at wide receivers -- their biggest need -- let’s examine a few possibilities.

Mike Wallace, Pittsburgh Steelers

Thoughts: The Steelers already said they are not trading Wallace, and they are an organization that's usually stern in its convictions. Pittsburgh also refuses to negotiate until Wallace joins the team. So I don’t see much going on in Pittsburgh. Even if Miami put together an attractive package of draft picks, could the Dolphins make Wallace one of the NFL’s highest-paid receivers with their limited cap room? Doubtful.

Chances: Slim

Dwayne Bowe, Kansas City Chiefs

Thoughts: Bowe is a big receiver Miami could use in its West Coast system. Bowe is playing on a one-year franchise tag and could make rookie quarterback Ryan Tannehill's job a lot easier. Again, with a big name like Bowe, Miami would get hit twice because it would lose quality draft picks and require a big extension the team doesn’t have much room for.

Chances: Slim

James Jones, Green Bay Packers

Thoughts: Miami head coach Joe Philbin knows Jones well after coaching him in Green Bay. Jones is a good fit and knows the West Coast offense. He's also expendable as the fourth receiver on Green Bay's depth chart. The Packers are wealthy at receiver and may be willing to part ways with Jones for a nice draft pick.

Chances: Decent

Terrell Owens, free agent

Thoughts: Owens comes with character issues and is exactly the type of player Philbin doesn't want in his locker room. After trading Brandon Marshall and cutting Chad Johnson, signing Owens would send the wrong message and come off as desperate. Ireland already told reporters he's probably not interested.

Chances: Slim

If Miami goes into the season with this current group, it is going to be a long year for the passing game. I expect the Dolphins to at least field some calls and, at the very least, make some waiver wire pickups. Getting a huge name would be a surprise, although a familiar player like Jones would be realistic.