NHL Trade Board: Werenski, Larkin, and Hellebuyck Headline the Big Names Still in Limbo

The frenzy of NHL free agency has passed, but the trade market has not cleared. Several of the biggest names in the game remain in limbo, their situations tangled by no-movement clauses, limited trade lists, and gaps between what teams want and what they can get. For fantasy managers, these unresolved stars are the summer's most important watch list, because a change of scenery can swing a player's line, power-play role, and workload.

Here is where the market's marquee names stand, and how to read each for fantasy purposes.

Zach Werenski: staying put, for now

Columbus defenseman Zach Werenski was presented with an opportunity to be traded to the Dallas Stars but was unwilling to waive his no-movement clause to make it happen, reportedly preferring an Eastern Conference destination. As of now he has not been traded, and both Werenski and Blue Jackets management have signaled he is staying in Columbus, at least for the time being.

The fantasy read: Werenski remains an elite offensive defenseman with heavy minutes and power-play value in Columbus, and that role is exactly what fantasy managers prize at the position. As long as he stays put, draft him with confidence as a top-tier blueliner. His no-movement clause actually adds stability to his outlook, since he controls where and whether he goes.

Dylan Larkin: Detroit in a bind

Red Wings captain Dylan Larkin has been unwilling to expand his three-team trade list, which limits Detroit's options and puts the front office in a difficult spot. The team's stance, per reports, is that it will get the price it wants or hold onto Larkin into the start of the season rather than sell low.

For fantasy, Larkin's value is tied to his role as Detroit's top-line center with power-play usage. If he stays, that role is secure and he remains a strong fantasy center. If a trade materializes to one of his approved teams, the fantasy question becomes whether he lands in a better or worse offensive environment. The short trade list actually narrows the outcomes, which makes his situation easier to handicap than most. Draft him as a top-line center and adjust only if a deal to a specific team changes his context.

Connor Hellebuyck: the goalie dominoes

The most fantasy-sensitive name on the board is Connor Hellebuyck, because goaltending value swings dramatically with situation. One prominent insider still expects Hellebuyck to be moved and has indicated the goalie would waive his no-movement clause to go to Buffalo. But a trade to the Sabres reportedly was not as close as believed, complicated by no-trade protection on some of the rumored return pieces.

Goalie is the position where a trade matters most for fantasy, because wins, save percentage, and goals-against average all depend heavily on the team in front of the netminder. Hellebuyck is an elite goaltender whose fantasy floor is high anywhere, but his ceiling in wins is a function of his team's quality. If he stays, his outlook is set. If he moves, evaluate the new team's ability to win games and suppress shots before locking in his projection. He is a target regardless, but the destination determines just how high to draft him.

The names behind the headliners

Werenski, Larkin, and Hellebuyck are the marquee names, but they are not alone on the summer trade board. Reports have grouped a broader set of established players among the offseason's trade candidates, including scoring wingers and centers whose teams are weighing contention windows against cap flexibility. Jason Robertson's contract standoff in Dallas is its own saga, and other veterans have surfaced in rumors as clubs look to reshape their rosters after the draft and the opening wave of free agency.

The common thread is friction: no-movement clauses, short trade lists, and gaps between what a selling team wants and what buyers will surrender. Those frictions are why the market has stalled rather than cleared, and they are why fantasy managers should not assume the board is set. A single waived clause or a team blinking on price can unlock a chain of moves, and each one reshuffles lines, power-play units, and goalie situations across the league. The lesson for drafters is to hold projections loosely on any player whose name keeps appearing in trade chatter.

The Verdexed model take

Verdexed's model treats unresolved star situations as elevated-variance assets: the talent is not in question, but the context that shapes fantasy output is. For skaters like Werenski and Larkin, the model anchors to their established top-line and top-pair roles and adjusts only if a trade changes their linemates or deployment. For a goalie like Hellebuyck, the model weights team quality heavily, so a trade could move his win projection meaningfully in either direction.

The actionable framework for drafters: value these players on their current situations while building in the flexibility to react. Werenski and Larkin are safe picks whose no-movement clauses and short lists limit downside surprises. Hellebuyck is the one to watch most closely, because a goaltender's home team is the single biggest input into his fantasy value, and his is not yet settled.

What's next

Expect the market to stay slow until a no-movement clause gets waived or a team blinks on price. Werenski appears likely to stay, Larkin's fate hinges on his three approved teams, and Hellebuyck remains the domino whose fall would reshape the goalie landscape. Keep all three on your watch list, and remember the rule that governs fantasy hockey trades: for skaters, watch the linemates; for goalies, watch the team. Where these stars land will define more fantasy value than any free-agent signing left on the board.