Indianapolis has spoken to at least two teams about Davis, whose contract expires after this season.
Davis has been with the Colts since 2012 and was a Pro Bowl selection in 2014 and 2015. However, Davis started this season and last season with injuries. He missed the first two games of 2016 because of a foot injury, and missed the first four games of this season rehabbing a groin injury.
Davis has 22 career interceptions and 335 career tackles entering Sunday’s game at the Cincinnati Bengals.
The Colts (2-5) are currently in last place in the AFC South.
The NFL trade deadline is Tuesday at 4 p.m. ET.