After victory over St Mirren, he insisted: "You are free to speculate."
Smith added: "We are actively looking for players who we think would improve the team and I've said that right from the very start of the transfer window.
"If we can find a player who we think can improve the team then we will endeavour to try to get them.
"So far, that has been a tough task. Clubs don't want to let good players go at this stage of the season. That's where we are at the moment in a situation where you are free to speculate."
Asked whether Bent was a player who would strengthen his current squad, Smith deftly side-stepped the question.
FIFA rules forbid a player from playing for three clubs in one season and 29-year-old Bent would fall into that category having featured for both Charlton and Wigan this term.
Rangers are already involved in a similar scenario, with Daniel Cousin's £3million switch to Fulham on hold until FIFA give the go-ahead.
"I think you will find, if you look back on Mr Bent's season, he may have played for two clubs already this season," pointed out Smith.