Raiders place QB Nathan Peterman (elbow) on IR

After a strong offseason, Reynolds is the clear-cut leader for the WR2 job. He arrived with little fanfare as a free agent (one year, $2.8 million), mainly because of a down 2024 with the Broncos and Jaguars. It also was a turbulent year; he suffered arm and head wounds in a shooting.

New Jets coach Aaron Glenn knows Reynolds from their time in Detroit, where the 30-year-old receiver was a solid complementary option. Beyond Garrett Wilson, the Jets lack big-play ability after cutting Davante Adams. Reynolds has separated from Allen Lazard and others.

Related Players: Tyler Johnson, Arian Smith, Malachi Corley

This seems a little surprising, until you look at the rest of the depth chart, that is. With Justin Fields at the helm, we should expect a very run-heavy offense in New York, and even if he loses the job, we would expect more of the same from Tyrod Taylor. Reynolds makes for an interesting stacking partner with Fields, though he's much closer to a fantasy WR5 than a WR2.

The Giants get a 2026 sixth-round pick from Miami for Darren Waller and a conditional 2027 seventh-rounder, per source.

Essentially a free pick for New York for a player who was retired, and a low-risk flier for Miami on a player who, at his peak, was one of the NFL’s best.

Related Players: Pharoah Brown, Julian Hill

Waller was a favorite of some as a cheap, late-round dart throw with the Giants last season before he unexpectedly retired. If the veteran were going to come out of retirement, this is about the best place you could land, but we'll see whether the time away from the game will make an impact on his effectiveness.

He certainly doesn't offer the type of upside we would have seen out of Jonnu Smith, but he should be on the radar as a low-end TE2 until we start to see how he looks/integrates during training camp.

Steelers-Dolphins trade, Part II: Dolphins are trading tight end Jonnu Smith to the Steelers for a late-round pick swap, per ESPN sources.

Smith will get a one-year contract extension for $12 million.

Related Players: Pat Freiermuth, Pharoah Brown, Julian Hill

What's good for the Steelers offense isn't necessarily a good thing for fantasy. Freiermuth is coming off a career-high 65 receptions, but even with a lack of a bona fide WR2 in Pittsburgh, it's doubtful he hits that number with Smith in town. This obviously means Smith will have to fight for targets as well, and puts both of their TE1 outcomes in question. Jonnu, at least, has familiarity with Arthur Smith, so we can envision usable weeks, just not nearly as many as he would have had in Miami.

The TE options leftover in Miami can be safely avoided, unless they make a move for another guy. Malik Washington becomes slightly more palatable as a (very) late-round dart throw.