The Dutch press are reporting that caretaker coach Sef Vergoossen wants to strengthen his defence this month and is keen on Bouma and Blackburn's Andre Ooijer.
Furthermore, PSV football chief Stan Valckx was said to be in England over the weekend.
But O'Neill, who has until the end of April to taken up a one-year extension on the left-back, insists talks are set to take place.
"We have an option for another year and I will speak to Wilfred about that. There are no worries with that one," O'Neill told the Birmingham Mail.