At the NHL trade deadline, draft picks are often the most important bit of currency.
Selling teams usually want them, buying teams often have them. While first-rounders provide the highest upside and best chance of hitting on a future NHLer, teams are also trying to get as many "lottery tickets" in the later rounds to give them a better shot at bringing in an NHLer in those stages of the draft.
At the 2026 NHL trade deadline, just looking at the last day of trading, 20 moves were made in total. According to PuckPedia, 18 total draft picks were swapped last Friday, including three first-rounders. In 2025, there were a total of 24 picks traded on deadline day (five first-rounders), in 2024, there were 24 (one first) and in 2023, there were 21 picks moved (no firsts), though that season came with a flurry of trade action in the week leading up to the deadline.
The next most important date, as far as draft picks are concerned, is the lottery, which will come sometime in May. After that, we'll know exactly who is picking where inside the top 15 or 16 (depending on whether Ottawa makes the playoffs or not).
Today, though, we're focusing on who holds the most picks for the 2026 NHL Draft after the trade deadline dust has settled, which teams hold the most valuable choices, and some of the conditions we're still waiting to find out. Keep in mind as well that more trades will surely happen in the lead-up to the draft, so these totals are bound to change before Round 1 kicks off.
* indicates a notable condition that realistically could change a first-round scenario
• Let's start with Ottawa, which was to forfeit this year's first-rounder for a past punishment over their handling of Evgenii Dadonov. That penalty was rescinded by the league on Thursday, and the Senators will now have a first-round pick. However, that pick is locked in at No. 32 overall and cannot be traded by the team. If the Senators miss out on the playoffs, they will still be involved in the lottery, so everyone's odds would remain the same in a 16-team draw. However, the Senators cannot move up from the last pick in the first round.
• At the moment, 10 teams don't have a first-round pick, which is the same amount that didn't have one after last year's deadline. However, there are a couple of key conditions that may return some teams to the board.
• The Toronto Maple Leafs sent their conditional 2026 first-rounder to Boston in last year's deal for Brandon Carlo, but it could be returned to the Leafs if Toronto ends up with a top-five pick after the draft lottery.
• Another fun scenario to consider regarding this Leafs pick: If they do happen to pick inside the top five this season, it will make 2027 highly interesting. If Toronto keeps this year's pick and their 2027 pick is outside of the top 10, Philadelphia will get it to satisfy the deal that brought Scott Laughton to Toronto, and Boston would get Toronto's unprotected 2028 first. If, however, Toronto keeps its 2026 pick and picks inside the top 10 in 2027, it will get to choose to either send that pick to Boston to satisfy the Carlo deal or send it to Philadelphia to complete the Laughton trade. Whichever of those teams the Leafs decide not to send a potential top-10 2027 pick to will get their 2028 first-rounder unprotected. (It should be noted that the Leafs have Colorado's 2027 first-rounder from the Nicolas Roy deal.)
• One more Leafs note: If they do not pick inside the top five this year, they will move their 2026 pick to Boston. Then, next year's first-rounder could be kept if it's within the top 10, but then their 2028 first would move to Philadelphia without any protections. Interesting time to consider a rebuild.
Here's the overall look at Toronto's 2026 pick conditions, via PuckPedia:
• The Florida Panthers have not made a first-round pick since 2021, but may get back in this season. The Panthers traded their 2026 first-rounder to Chicago last season in the Seth Jones deal, but gave it top-10 protection. That may have seemed moot at the time, since they were the defending Stanley Cup champions and showing no signs of slowing down. But Florida is 12th from the bottom right now. Two points separate them from the Leafs, who are seventh from the bottom.
• If the Panthers keep their first-round pick this season, Chicago will instead get Florida's unprotected first in 2027.
• The Anaheim Ducks made possibly the most surprising move of the deadline, acquiring John Carlson from Washington and moving a conditional first-rounder for him. The Ducks lead their division and are eight points clear of the non-playoff teams. If Anaheim gets into the playoffs, Washington will get the Ducks' 2026 first-rounder. If they end up missing, Anaheim would have the option of keeping its 2026 first-rounder and moving an unprotected 2027 first to Washington instead. We'd bet that choice would hinge on the draft lottery results.
• Of the three teams with 12 picks overall, Calgary might have the best value. On top of the two firsts, they have four second-rounders (CGY, NYR, OTT, UTA). The Blackhawks have two first-rounders as well, but, as mentioned, may have the one acquired from Florida moved back a year. The Blackhawks have three second-rounders, two of which could come very early in the round between their own and Toronto's.
• St. Louis, also with 12 overall picks, has more first-rounders than anyone, but doesn't have any selections in the second round.
• Colorado appears high with eight overall picks, but they don't have any in the first three rounds, and four of them are seventh-rounders.
• Edmonton is tied for the fewest amount of picks and is the only one at the bottom to not have a guaranteed first. The Oilers will pick in Rounds 2, 3, 6, and 7.
