It is also only seven short of what they achieved in the last campaign when they finished two places above the relegation zone after a late scrap for survival.
But with more clubs involved in the struggle this season Megson is under no illusions that they cannot afford to rest on their laurels.
"We've got it (the gap) to seven points at the moment but other teams are getting decent results as well," he warned ahead of Sunday's visit of Newcastle.
"That means other teams are being brought back into it, so the whole matter is not getting any clearer.
"I still think the same number of teams are involved in the relegation battle as were the week before, including ourselves and Newcastle, so it is another huge game."
Because the situation is so tight in the bottom half of the table, with 10 points separating 10th-placed Manchester City and bottom side West Brom, Megson is reluctant to set a target for his team.
"It makes me laugh when people start doing it. You can't apply mathematics to football. It doesn't work," he told the Bolton News.
"Nobody knows what it (the safety mark) is going to be. You've got to just keep plugging away and not take your foot off the pedal.
"It is so tight. We're all in the same boat. I defy any of the managers of any of the teams that are down there to say they are not looking at anyone else's results. We're exactly the same."
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