According to the source, speaking on the basis of anonymity, the Flames are weighing all of their options, including moving Cammalleri.
It's not yet known if contract talks have started between the Flames and Cammalleri's agent.
Flames GM Jay Feaster has already been active this off-season, having tried to acquire the first-overall pick from the Colorado Avalanche earlier this month.
Feaster, who recently admitted going through a rebuild, is still looking to bolster his roster next season. He is in the market for a first or second line center, a top-six winger, a gritty two-way forward, and a top-four defenseman.
Trading Cammalleri is not a guarantee, though. If the Flames acquire a top-line center, it would presumably be to play with the Toronto native. The Flames are also reportedly willing to entertain inquiries and offers for such players as Alex Tanguay, Cory Sarich and Lee Stempniak.
Cammalleri, 13 goals and 19 assists for 32 points in 44 games this past season, has a limited no-movement clause and can list up to seven teams he will not accept a trade to.
Several teams, including the Ottawa Senators, Buffalo Sabres, Dallas Stars and Nashville Predators, are looking to get their hands on a top-six forward.