The trade deadline is 3 p.m. ET on Wednesday, and while there have been a handful of big trades already, there are sure to be plenty more.
Let's have a look at who should be buying big, who is expected to have a fire sale and everything in between. Here are projected playoff chances, salary cap space and trade targets (or trade chips) for every team:
Atlantic Division
Montreal Canadiens
Record: 34-21-8
Playoff chances (courtesy of Hockey Reference): 95.6 percent
Cap space (courtesy of Spotrac): $184,573
Who they should buy:
There was some regression expected from Duclair after he scored 20 goals with a 19.0 percent shooting percentage in 2015-16. It was not expected that he would drop to single-digit points in 41 games. Montreal should still be intrigued, however, because the 21-year-old winger is affordable, and could be set for a bounce back. He's currently shooting just 5.2 percent, and has been playing on the second worst team in hockey. Given the status of the rest of the Atlantic, the Canadiens could have an easy path to the conference finals; adding another depth scorer could make them dangerous against whoever they face there.
Ottawa Senators
Record: 33-22-6
Playoff chances: 81.7 percent
Cap space: -$10,630
Who they should buy: Patrick Sharp, F, Stars
It has been quite the turnaround for the Senators, but they are not truly in a position to completely go for it. Ottawa ranks 23rd in Corsi for percentage and 19th in goals for per 60 minutes, which suggests they would have a really tough time knocking off teams like Washington and Pittsburgh. Still, a fairly priced scorer like Sharp with the potential to get hot down the stretch could boost a team that hasn't seen the second round since 2013.
Boston Bruins
Record: 32-24-6
Playoff chances: 70.0 percent
Cap space: $5.1 million
Who they should buy: Erik Johnson, D, Avalanche
The Bruins most likely won't be big buyers -- and shouldn't be -- but if there is a chance to upgrade their defense corps long term, they should take the opportunity. Zdeno Chara is still playing well and rookie Brandon Carlo is showing progress, but Chara is nearing the end his his career and the B's are still short on top-four defenders until their prospects are ready. Chara's cap hit drops to $4 million next season, opening up some room to spend around his and Torey Krug's price tags.
Toronto Maple Leafs
Record: 28-20-13
Playoff chances: 59.4 percent
Cap space: $26.3 million
Who they should buy: Shea Theodore, D, Ducks
While Mike Babcock's Maple Leafs are overachieving and may well make the playoffs, they aren't yet ready to be a true Stanley Cup contender, so Toronto should simply stay the course. That means looking for younger players that could make a long-term impact rather than rentals. The Leafs are loaded with top-notch forward talent, but need upgrades on the blue line; Anaheim has an excess of young defensemen, and could be open to dealing one of them.
Florida Panthers
Record: 28-23-10
Playoff chances: 19.3 percent
Cap space: $9.7 million
Who they should buy: P.A. Parenteau, F, Devils
Since getting Aleksander Barkov and Jonathan Huberdeau back in the lineup, Florida looks more like the competitor they expected to be this season. Like the Senators, the Panthers do not have the credentials to be considered a legitimate threat for the Cup, but they should view playoff wins as important for the long-term direction of the franchise. Parenteau has played for four different clubs in four seasons, and produced solid point totals (27 points in 59 games this season) everywhere he has gone. The 33-year-old winger would improve Florida's scoring depth without forcing them to sacrifice any key pieces in exchange.
Tampa Bay Lightning
Record: 28-25-8
Playoff chances: 15.2 percent
Cap space: $16.4 million
Who they should sell: Tyler Johnson, F
With defenseman Victor Hedman's cap hit taking a big jump next season, and three top-six forwards hitting restricted free agency, it would be a major challenge for the Lightning to keep everyone, despite already trading away Ben Bishop and Brian Boyle. Since his magnificent 2014-15 season, Johnson has seen a slide in his point production and underlying numbers like Corsi for percentage and goals for percentage. Despite that slip in scoring, he would still bring significant offers on the open market from teams who believe they can fix what ails him.
Buffalo Sabres
Record: 26-26-10
Playoff chances: 2.0 percent
Cap space: $1.5 million
Who they should sell: Dmitry Kulikov, D
Losses to the NHL's worst two teams in back-to-back nights should solidify the Sabres' decision to sell everything that isn't nailed down at the deadline. Buffalo acquired Kulikov from Florida at last year's draft, with expectations that he would solidify their blue line. While that didn't exactly happen, and the Sabres have struggled defensively this season, there should be several teams ready to give away a draft pick to bolster their back end.
Detroit Red Wings
Record: 24-26-10
Playoff chances: 1.5 percent
Cap space: $27.7 million
Who they should sell: Thomas Vanek, F
When the Wild bought out Vanek after last season, it wasn't clear whether he had anything left in the tank. Turns out, he does. The Austrian winger ranks fourth in the NHL in five-on-five points per 60 minutes (just behind Sidney Crosby). There are shortcomings in his game, no doubt, but Vanek has proven that he can still produce when given the right situation. If Martin Hanzal can bring in a first-round pick (and more), the Red Wings should get multiple assets in return for Vanek.
Metro Division
Washington Capitals
Record: 41-13-7
Playoff chances: 100 percent
Cap space: $481,862
Who they should buy: Jiri Hudler, F, Stars
Barry Trotz's group is quite possibly the deepest Caps team of the Alex Ovechkin era, with quality scoring depth, an elite goaltender and one of the best defensive groups in the league after adding Kevin Shattenkirk. There isn't much left to add except a versatile luxury piece like Hudler, who could fill in at almost any role up and down the lineup if another forward went down with an injury. But, it also wouldn't be surprising to see them stand pat after their blockbuster.
Pittsburgh Penguins
Record: 38-14-8
Playoff chances: 100 percent
Cap space: $3.7 million
Who they should buy/sell: Nobody
Since the Penguins have said they aren't interested in moving Marc-Andre Fleury and already acquired defenseman Ron Hainsey, they should be set to make another run at the Stanley Cup with what they've got on the roster now. With Sidney Crosby playing some of the best hockey of his career, Pittsburgh shouldn't do anything to upset the apple cart at this point.
New York Rangers
Record: 40-20-2
Playoff chances: 100 percent
Cap space: $2.4 million
Who they should sell: Kevin Klein, D
It isn't often that a team in the Rangers' position would be selling, but the Blueshirts have an opportunity to upgrade by moving Klein, possibly for a depth forward. Puck mover Adam Clendening has been in the lineup more often recently and has built chemistry with defenseman Brady Skjei, which has pushed Klein out of the mix.
Columbus Blue Jackets
Record: 39-16-5
Playoff chances: 100 percent
Cap space: $11.2 million
Who they should buy: Viktor Stalberg, F, Hurricanes
There is a good case for the Blue Jackets making any upgrade possible to take a shot at finally breaking through in the playoffs, but Columbus' aim should still be to remain perennially competitive rather than just make a run this season. The Blue Jackets might also not want to mess with a good thing, considering they currently have a similar goals for percentage and Corsi for percentage this season as the Penguins'. If there is anything the Jackets could add, it's a depth forward as a just-in-case option, and Stalberg would be a perfect fit -- and likely come reasonably cheap.
New York Islanders
Record: 29-22-10
Playoff chances: 47.1 percent
Cap space: $2.1 million
Who they should sell: Dennis Seidenberg, D
Just one point out of the playoffs, the Islanders are caught in between hoping for the best and going all-in. With John Tavares in his prime, the Isles should probably take every shot at a Stanley Cup that they can, but even their recently improved play still does not point toward a championship this spring. Seidenberg has had a bounce-back season, and would gain the interest of a handful of teams looking to improve; he'd also bring the Islanders back a decent draft pick or other future assets in return. Unless they can acquire someone like Gabriel Landeskog or Jordan Eberle, moving out the most valuable rental is the better play than buying short term.
Philadelphia Flyers
Record: 28-26-7
Playoff chances: 3.1 percent
Cap space: -$519,662
Who they should sell: Michael Del Zotto, D
After making the postseason in 2015-16, it appeared the Flyers were on the right track, but their goaltending has struggled this season, making it impossible to keep up with the Metro's best clubs. Del Zotto has battled injuries and inconsistency throughout his career, but when he's clicking, the former Ranger and Predator is dangerous enough offensively to net Philadelphia decent return for his services.
Carolina Hurricanes
Record: 25-25-8
Playoff chances: 4.0 percent
Cap space: $17.6 million
Who they should sell: Justin Faulk
For years, the Hurricanes have been stacking high draft picks with hopes of breaking through, yet they have been stalled at the bottom of the East because they do not have many dynamic scorers. With an excess of young, valuable defensemen, maybe it is time to take a bigger swing to acquire a dynamic forward like Matt Duchene instead of just selling off parts. Faulk could be the foundation of such a deal.
New Jersey Devils
Record: 25-25-12
Playoff chances: 1.1 percent
Cap space: $9.8 million
Who they should sell: Kyle Quincey, D
After acquiring Taylor Hall from Edmonton last offseason, the Devils were hoping for a much higher standing in the Eastern Conference at this point. But they have still struggled to score, and goaltender Cory Schneider hasn't been able to drag New Jersey into contention by himself. With only three pending free agents, the Devils won't be able to pull in many picks at the deadline. Quincey is the type of defenseman that teams love to have on the roster for a playoff run, and could net GM Ray Shero some futures.
Central Division
Minnesota Wild
Record: 40-14-6
Playoff chances: 100 percent
Cap space: -$1.4 million
Who they should sell: Darcy Kuemper, G
GM Chuck Fletcher didn't wait around until deadline day to get his man, as the Wild bolstered their bottom six by trading a first-round pick and more to Arizona for center Martin Hanzal. Now all that's left for Minnesota is to grab a backup goalie who they could trust if Devan Dubnyk gets hurt (and one they wouldn't mind losing in the expansion draft), as it's not clear they feel that way about Kuemper.
Chicago Blackhawks
Record: 39-18-5
Playoff chances: 100 percent
Cap space: $1.7 million
Who they should buy: Radim Vrbata, F, Coyotes
The world keeps spinning and Vrbata keeps producing points. At age 35, the seventh-round pick from 1999 is still scoring, leading Arizona with 46 points in 61 games. Chicago added Tomas Jurco, but after Minnesota added another forward, the Blackhawks may feel some pressure to stock up their group up front a bit more. Vrbata could be the perfect playmaker to get them over the top.
Nashville Predators
Record: 31-22-9
Playoff chances: 89.1 percent
Cap space: $3.6 million
Who they should buy: Matt Duchene, F, Avalanche
Nashville has been one of the most aggressive teams in the trade market during the last two years, acquiring Ryan Johansen and P.K. Subban in deals that each qualified as shocking, and it wouldn't be surprising if they were in on some of the biggest names this year. Colorado is looking for a shakeup, and despite his scoring prowess, Duchene's name has been at the forefront of trade rumors for months. While Johansen has played well for the Preds, he doesn't have the ability to take over games with his speed like Duchene does. Combining two strong centers with star wingers Filip Forsberg and James Neal would push Nashville up into the group of favorites for the Cup.
St. Louis Blues
Record: 31-25-5
Playoff chances: 84.7 percent
Cap space: $1.1 million
Who they should buy: Cody Franson, D, Sabres
After sending Kevin Shattenkirk to the Capitals, the Blues need to fill a blue-line spot if they still plan on making the playoffs. It might come as a surprise that Shattenkirk and Franson have pretty similar offensive numbers. During the past three seasons, the newest Capital is 42nd in five-on-five points per 60 minutes, while Franson is 49th. Shattenkirk is an elite power-play producer, with the best scoring rate in the NHL in the past three seasons, at 6.91 points per 60 power-play minutes, but Franson scores at a respectable 3.71 per 60 minutes clip (which ranks 40th). Simply put: The Blues shouldn't give up on their season just because they were forced to move one good player.
Winnipeg Jets
Record: 28-29-6
Playoff chances: 9.1 percent
Cap space: $4.9 million
Who they should sell: Drew Stafford, F
Winnipeg is set up too well to throw away draft picks or prospects for rentals. They should stay the course, and build around young superstars Mark Scheifele and Patrik Laine rather than pushing for the playoffs this season. Stafford hasn't done much as a Jet, but he could still pull in a decent draft pick from a team looking to add a bottom-six forward.
Dallas Stars
Record: 24-28-10
Playoff chances: 0.8 percent
Cap space: $3.0 million
Who they should sell: Johnny Oduya, D
Last season, Oduya gave the Stars what they were looking for with solid play on the blue line, but injuries have slowed him and the Stars down this season. While the market for defensemen will be pretty robust, Oduya will still have considerable value, as he brings along extensive playoff experience and a reputation as a "shutdown" defensemen.
Colorado Avalanche
Record: 17-40-3
Playoff chances: 0 percent
Cap space: $1.5 million
Who they should sell: Jarome Iginla, F (among others)
There are so many possibilities for the Avalanche at the deadline, but the move everyone wants to see is a new home for Jarome Iginla. The legendary power forward hasn't produced much offensively this season, so Colorado shouldn't expect a king's ransom. He is, however, playing on the worst team in hockey, which might make his numbers look worse than they should be. Iginla could still contribute while playing for a contender's bottom six and second power-play unit.
Pacific Division
San Jose Sharks
Record: 36-18-7
Playoff chances: 99.8 percent
Cap space: $1.7 million
Who they should buy: David Desharnais, F, Canadiens
Though the Sharks are sitting at the top of the Pacific Division, their offensive attack isn't quite as deadly as it was heading into the playoffs last season. They attempted to fill a hole by signing Mikkel Boedker in the offseason, but he has just seven goals in 60 games. Meanwhile, Montreal has been healthy-scratching Desharnais, who has been a positive Corsi player and decent five-on-five producer for his entire career.
Edmonton Oilers
Record: 33-22-8
Playoff chances: 97.6 percent
Cap space: $5.4 million
Who they should buy: Drew Stafford, F, Jets
The thought of facing Connor McDavid in the playoffs should have quite a few Western Conference teams nervous, so the budding Oilers don't want to ignore their postseason possibilities. They also shouldn't be looking to push all their chips to the middle of the table just yet. Finally on the right track after a seemingly endless rebuild, Edmonton wouldn't be wise to move out any significant futures. However, they can still acquire a cheap, boom-or-bust forward who might help down the stretch.
Anaheim Ducks
Record: 32-21-10
Playoff chances: 94.4 percent
Cap space: $3.3 million
Who they should buy: Evander Kane, F, Sabres
Anaheim is at the top of the list of teams that should be going all-in at the deadline. The Ducks' stars, Ryan Getzlaf, Corey Perry and Ryan Kesler, are all in their 30s, and may not have many years remaining as top-notch players. Even with those stars in place, Anaheim sits 21st in goals for per 60 minutes. Adding one more goal scorer could be the difference in an early-round exit and another long run, and the Ducks have enough young blueliners to make a deal happen with the defensemen-needy Sabres.
Calgary Flames
Record: 33-26-4
Playoff chances: 76.9 percent
Cap space: -$1.7 million
Who they should buy: Michal Neuvirth, G, Flyers
It has been a pretty rotten season for Neuvirth, but historically he has been a solid goalie who has the capability to get hot and carry a team. The Flyers threw Neuvirth in net during their first-round series against Washington and he nearly pulled off an upset, posting a .981 save percentage in three games. And while things have been a bit better for Brian Elliott of late, Calgary could use another option in the crease.
Los Angeles Kings
Record: 30-27-5
Playoff chances: 46.0 percent
Cap space: $8.6 million
Who they should buy: Thomas Vanek, F, Red Wings
While the Kings just acquired goalie Ben Bishop, it would seem they have a much more glaring need: scoring. Los Angeles ranks 24th in both goals for per 60 minutes at even strength and in power-play percentage. At worst, Vanek is still an outstanding power-play scorer. At best -- with the right linemates and deployment -- he can still light up the scoreboard at five-on-five, as well. The Kings are a team that nobody wants to face in the postseason if they add a talented scorer, and Vanek seems like a perfect fit.
Vancouver Canucks
Record: 26-29-6
Playoff chances: 1.6 percent
Cap space: $4.7 million
Who they should sell: Ryan Miller, G
When Miller was traded from Buffalo after 11 seasons as a Sabre, he hoped to land with a team with a chance to win a Stanley Cup. Instead, he eventually landed with a Canucks club that has sunk from being a playoff team in his first season to one in need of a rebuild (whether the front office believes it or not). There isn't a huge market for goaltenders -- the Kings were reportedly the only team to offer anything for Bishop -- so it won't be easy to find a spot for him. But any team looking for a reliable upgrade could get one with Miller.
Arizona Coyotes
Record: 22-32-7
Playoff chances: 0 percent
Cap space: $19.9 million
Who they should sell: Shane Doan, F
Arizona may have wanted to see a little more progress than they did this season, but the long-term plan is still in place to stockpile prospects and draft picks. That means moving out any player on an expiring contract. Doan will likely want to take one last shot at winning a Stanley Cup, and could agree to play for a different franchise for the first time in his career.