The Blues are enduring a torrid start to the season, recording just one win in their four opening games as they sit 11th in the table with five points.
Due to a transfer ban, restricting Chelsea from recruiting new faces, results at the Stamford Bridge are not convincing as that has forced Lampard to consider fighting for a place in the top-six at the end of the season.
"Yeah, they should [sense an opportunity]. They should do because from almost being able to write the top four down at the start of the season, certainly now you can't," the Chelsea head coach told UK newspapers.
"A top-six you can't write down because, with the playing field of what we have got now, where teams are investing heavily, you have to respect them. They are well managed, they have good players, they are competitive. There are no easy games in the Premier League, more than ever.
"We've seen it changing before our eyes because I remember last year people talking about Everton and Leicester. And Wolves probably came on their own, competing towards the top six and I think that is the landscape."
Lampard expects to pick up his second win for the Stamford Bridge outfit when they will be welcomed by Nuno Espirito Santo’s Wolves at Molineux on Saturday.
With Wolves also wobbling at the start of the season, a win for The Wanderers is vital to elevate them from their current 17th position.
