In his first season with the Mets, the 41-year-old is 8-8 in 18 starts with an ERA of 3.99.
Colon signed a two-year deal in the offseason and is making $9 million this season. He is owed $11 million in 2015.
More from ESPNNewYork.com:
Although general manager Sandy Alderson has suggested a surplus of arms can quickly be depleted through injury, the Mets do have an excess at the position. Jonathon Niese, Zack Wheeler, Dillon Gee, Jacob deGrom all remain under the Mets' control for multiple seasons. Matt Harvey is due to return from Tommy John surgery next year. And the Mets also have highly regarded prospects Noah Syndergaard and Rafael Montero in Triple-A.
Rubin reports that the Mets have no had "serious talks" about Colon, and that he will not necessarily be dealt.
Colon has played for eight different teams during his 17-year MLB career.
- Sarah Barshop