The Bolton boss has made recruiting defensive cover a priority after seeing his squad depleted in the last week having lost the services of both Ricardo Gardner and Simon Charlton through injury.
Allardyce admits he has a number of available options as to who he can bring in, but the final stage is agreeing a package which is suitable for both parties and within Bolton's financial reach.
"I am hopeful that I can bring in a defender before the weekend. At this stage I have a number of options open to me and it will be down to agreeing a package, I am hopeful something can be done" he told the clubs official site
"Key to our continued success would be to bring in three players before the transfer window closes at the end of this month"
Reports in various newspapers have linked Liverpool left back Djimi Traore with a loan move to the Reebok Stadium whilst Sunderland's out of favour defender Michael Gray has also been touted as a potential target.