The 28-year-old has played seven games for Town, with one goal coming in the 6-1 drubbing of Barnsley.
Armstrong was loaned by former carektaker Graham Rodger, but current boss Nicky Law clearly sees how valuable the ex-Huddersfield man is to Town's small squad.
With Wednesday boss Chris Turner happy to let Armstrong leave, the player is more or less playing for a contract next season - with that be with Town or another team.