Reds general manager Wayne Krivsky declined to comment on the story.
"I don't talk about rumors about any of our players," Krivsky said.
The annual non-waiver trading deadline is July 31, so the Dunn rumor will be the first of many around the league in the coming weeks. With the Reds in last place, other clubs could start calling Krivsky should his team go into selling mode.
"You hear from everybody," Dunn said of the rumor mill. "You go out to dinner and you hear it. You can't help but not to hear it."
Any potential Dunn deal comes with complications. The 27-year-old is making $10.5 million this season, with a $13.5 million option for next season that carries a $500,000 buyout. However, the option is voided if Dunn is traded before 2008 and he would become a free agent.
A team would likely have a negotiating window to work out a new deal with Dunn, or they could get him as a "rent-a-player" for the rest of 2007. That could limit suitors to big market clubs only.
"Basically, that was some protection that if I did get traded, hopefully it would eliminate some places I wouldn't like to go," said Dunn of the two-year, $18.5 million contract he signed before last season. "I've said it from Day 1. I'd love to stay here. But I know how this game is and how this kind of thing works."
Dunn entered Tuesday batting .250 with 15 home runs and 38 RBIs in 62 games this season.
Any day for 'Everyday'?
Closer Eddie Guardado pitched a scoreless inning of relief for Triple-A Louisville on Monday in his latest rehab assignment. Guardado faced Rochester, the affiliate of his former team, the Twins.
"I ended up facing (former teammate Matthew) LeCroy, my first batter and walked him," Guardado said. "He gave me a smile, and went, 'You little sucker.' It was good. I got a strikeout, a double play and a strikeout."
Things could soon accelerate quickly for Guardado, who is trying to return from Tommy John surgery on his left elbow. He is scheduled to pitch for Class A Dayton on Wednesday. On Friday, he will go on a road trip to Rochester with Louisville and is expected to work back-to-back games for the first time.
"That's the big test, we'll see," said Guardado, who's thrown three scoreless innings over his three Minor League games. "We're moving along and getting real close."
Throughout his rehab, Guardado has targeted returning when the Reds play the Mariners, another of his other former clubs. That date is right around the corner on June 22.
"If everything goes good, hopefully. Who knows?" said Guardado, who is eligible for activation from the 60-day disabled list. "Hopefully, I have no setbacks. So far, so good. I just enjoy pitching. I'm tired of being a cheerleader."
Usually a positive person, it wasn't surprising that reliever Todd Coffey turned lemons into lemonade over being sent down for the second time this season. Coffey was recalled from Louisville on June 4, only to go back on Friday when the club needed roster space to promote rookie Homer Bailey.
Optioned players usually have to spend a 10-day minimum in the Minors. But Coffey was brought back on Tuesday because rookie reliever Jared Burton went on the 15-day DL with lower back spasms.
"It's part of baseball," Coffey said. "I got to go down there. [Minor League pitching coordinator] Mack Jenkins was down there and he was the one who taught me the split-fingered fastball in the first place. I got to go down there and work on the split a little bit."
EZ on the mound:
After being out so far this season with a right shoulder injury, Elizardo Ramirez came off the DL and was scheduled to make his first start on Tuesday with Louisville.
Reds pitcher Aaron Harang opened a package on Tuesday that contained a black baseball hat. Embroidered in white on the front was a name tag that said "Hello, my name is..."
"I'm going write Aaron on it because people [on television] keep calling me Adam," Harang said.
Reds media relations director Rob Butcher frequently writes Harang's first name in capital letters on the team's game notes, sometimes to no avail.
Draft picks signed:
The Reds announced the signing of eight picks from last week's First-Year Player Draft. Signed were pitcher Andrew Bowman (fifth round), shortstop Scott Gaffney (12th round), pitcher Matt Klinker (15th round), shortstop Jacob Kahaulelio (20th round), catcher Jason Bour (23rd round), first baseman Eli Rimes (25th round) and pitchers Steven Otterness (29th round) and Jordan Hotchkiss (31st round).
Kyle Lohse (3-7, 4.22) will start for the Reds in Wednesday's 7:10 p.m. ET game against the Angels and John Lackey (9-4, 2.60).