Wednesday boss Darren Moore has strengthened his defensive options over the course of the summer transfer window so far.
Akin Famewo has come in from Norwich City, along with Michael Ihiekwe and Ben Heneghan arriving on free transfers.
However, Moore could still look at signing yet another defender before the transfer window shuts close on 1st September.
The new signing could be crucial in helping the Owls shift Palmer to the right-wing-back role and compete with Hunt for a spot in the playing eleven.
Moore used the 5-3-2 formation for the Owls first league game of the season, with three central defenders being complemented by two wing-backs.
The League One giants are looking for another striker as well, with Rangers star Kemar Roofe being one of the names being suggested.
After the 3-3 draw against Portsmouth on the opening weekend, the Owls take on MK Dons this Saturday.