The New York Knicks and Indiana Pacers recently discussed a trade of J.R. Smith for Chris Copeland, according to a source.

Copeland has an expiring contract after leaving the Knicks for the Pacers on a two-year, $6 million deal in 2013.

Smith can opt out of the $6.4 million he's owed for 15-16, but he could also wait for 2016 when the cap is expected to increase.

Phil Jackson isn't expected to make any moves until Dec. 15 when free agent signees and 2014 draft picks become eligible to be traded.