The San Diego Padres say the Cubs haven't contacted them since the winter meetings, but Jake Peavy's agent says he has noticed what the Cubs have been up to:

In trading outfielder Felix Pie to the Baltimore Orioles on Sunday, the Cubs acquired two more inexpensive arms, including one piece the Padres covet: left-handed pitcher Garrett Olson. If the script is not yet complete, the stage appears to be set.

"Obviously, we took note of the trade that took place (Sunday)," (Barry) Axelrod said Monday, en route to an appointment with Peavy. "You would certainly not be out of line to surmise from all of (the Cubs' moves) that they might be working toward something. But I haven't heard a word that anything is different."

The Padres aren't so sure:

"I think too much is being made of the Chicago/Baltimore trade as it might relate to us," Padres CEO Sandy Alderson said Monday. "Chicago had a crowded outfield, probably needed to move Pie, had limited interest in him among other clubs and knew what Baltimore would give up from the earlier discussions with us."

Thus ends today's installment of "Peavy Watch."

(We should get some theme music.)