The left-back's contract with Atletico expires on June 30 and in recent weeks he has been linked with Barcelona and Flamengo, among other clubs. The 33-year-old has also not ruled out remaining at Atletico, where he has spent eight of the past nine seasons, reports Xinhua news agency.
"I have a chance to stay or leave," Luis told a news conference here on Tuesday. "I know the doors are open (at Atletico). I already told the coaching staff that I will not say yes to any club before the Copa America ends. Any queries they have, they can speak to me directly.
"I'm only going to tell you (journalists) where I'll play when the Copa America is over."
When asked about the prospect of returning to a Brazilian club, Luis said: "I haven't made a decision yet, but I would like to play again here and have this experience. Brazil loses out in some respects, but in others it beats Europe. Which Brazilian kid doesn't dream of winning the (Brazilian) Serie A?"
Luis, who has long been an understudy to Marcelo in Brazil's national team, is currently the first-choice left-back of Selecao boss Tite following the Real Madrid player's recent struggles with form and fitness.
Brazil will kick off the Copa America against Bolivia at Sao Paulo's Morumbi stadium on Friday. The five-time world champions will also meet Peru and Venezuela in Group A.
( With inputs from IANS )