The competition is set be completed in Germany because of Covid-19 and there is a chance Wolves’ last-16 second-leg against the Greek side could also be played overseas.
But there is a growing expectation that the game will take place at Molineux, given the easing of restrictions as of late.
The match will be played on either August 5 or 6.
And when contacted by the Express & Star for a comment on when a decision over the venue will be made, competition organisers Uefa said: “There is no specific date and an announcement will be made in the coming weeks.”
Wolves and Olympiacos drew 1-1 in the last-16 first-leg back in March, with the encounter taking place behind-closed-doors at the Karaiskaki Stadium.
Nuno Espirito Santo’s side then found out a couple of weeks ago that the quarter-finals, semi-finals and final will be played as straight knockout ties across four German cities – Cologne, Duisburg, Dusseldorf and Gelsenkirchen.
Those games will be played from August 10 to 21.
What was not decided was the remaining round of 16 fixtures, but Uefa have previously said they will do all they can for those games to take place in their host countries.
And Wolves believe the most likely outcome is that the return leg will go ahead behind-closed-doors at Molineux.
They have played three Premier League games over the past few weeks.
Olympiacos have been back in action for even longer, too, as the Super League got back under way at the start of June.