The turn of the new year in the NHL means it's time for teams to start formulating game plans for the trade deadline. Will they be buyers, sellers or wait to see how things play out in the coming weeks?
There are several key factors that go into these types of decisions, like a team's competitiveness, cap space, players with trade value and draft picks.
Here is a look at where every team in the Western Conference stands as we begin trade season (and be sure to check out the Eastern Conference preview here):
Note: All cap information is courtesy of CapFriendly. Teams are listed in standings order as of Jan. 10.
Central Division
Winnipeg Jets (26-11-7)
Projected cap space: $6.5 million
2018 draft picks: Rounds 1-7, Boston's sixth
Top assets: C Marko Dano, LW Brendan Lemieux, G Steve Mason
Game plan: After stringing together several disappointing seasons, the Jets' commitment to their long-term plan is paying off. They have avoided big trades and coaching changes in favor of letting players like Mark Scheifele and Patrik Laine grow into superstars. Now with the league's second-best offensive attack and a top-10 ranking in goals against, Winnipeg is in position to compete for a Stanley Cup. While they don't have a glaring need, adding a veteran to the bottom six could help their cause come playoff time.
Nashville Predators (25-11-6)
Projected cap space: $2.9 million
2018 draft picks: Rounds 1, 3-7
Top assets: LW Austin Watson, C Colton Sissons, LW Pontus Aberg
Game plan: With Stanley Cup aspirations, put the Predators at the top of the list of teams in need of a sniper. While they are in the top 10 in scoring, Nashville will need a deeper lineup in order to get back into the conversation for the West's best team. The Preds are currently running Scott Hartnell and Sissons, who have combined for nine goals this season, out on the ice as third-liners. Even if it means moving a high pick or top prospect, finding the right rental scorer will be worth the sacrifice.
St. Louis Blues (26-17-3)
Projected cap space: $48,100
2018 draft picks: Rounds 2-7
Top assets: RW Dmitrij Jaskin, D Vince Dunn, C/LW Ivan Barbashev
Game plan: The Blues have a little different look up front than in years past, with former Flyer Brayden Schenn leading the team in scoring. But their statistical profile looks similar to other St. Louis teams that have disappointed in the postseason. They sit 17th in goals for and fourth in goals against. The lack of scoring comes in part because injuries have weakened a strong forward group. The Blues should be on the hunt for a scorer come deadline time. Ottawa's Mike Hoffman could be the perfect fit.
Dallas Stars (24-16-3)
Projected cap space: $1.1 million
2018 draft picks: Rounds 1-7, Chicago's fourth
Top assets: RW Brett Ritchie, C Jason Spezza
Game plan: The Stars appear to be finding a groove under coach Ken Hitchcock, going 6-2-2 in their past 10 games. With top players Tyler Seguin, Jamie Benn and Alexander Radulov playing at a high level, the Stars should be in the market for more support for their stars. They are not getting that support from Spezza and Ritchie, who have combined for eight goals. In order to compete with deeper teams who will be fighting for rentals, the Stars will need to land a middle-six forward to keep pace.
Chicago Blackhawks (21-15-6)
Projected cap space: $0
2018 draft picks: Rounds 1-3, 5-7, Columbus' fifth
Top assets: RW Richard Panik, RW Tomas Jurco, RW Ryan Hartman
Note: This column was originally published prior to the trade sending Panik and Laurent Dauphin to the Coyotes in exchange for Anthony Duclair and Adam Clendening.
Game plan: As long as Patrick Kane, Duncan Keith and Jonathan Toews are still in Chicago, the Blackhawks will be in win-now mode, but the lack of cap space limits their trade possibilities -- they'll need to move some salary in order to add some. The Hawks will have to get creative to find cheap role players to fill out both their forward and defense groups before the deadline. Otherwise, the superstar core will be destined for another early end to their season.
Minnesota Wild (22-17-4)
Projected cap space: $340,000
2018 draft picks: Rounds 1, 3, 5-7, Vegas' third, Buffalo's third, Washington's fifth
Top assets: C Joel Eriksson Ek, LW Jason Zucker, D Jonas Brodin
Game plan: It might be time for GM Chuck Fletcher to make a move that shakes up the core of a team that has consistently come up short in the playoffs. While the Wild have battled injuries, the total output has still been less than the sum of all the parts. In order to make a franchise-changing move, the Wild would have to put players who are in their prime like Jason Zucker, Charlie Coyle or Jonas Brodin on the table and/or break into their prospect pipeline.
Colorado Avalanche (22-16-3)
Projected cap space: $9.8 million
2018 draft picks: Rounds 1-7, Ottawa's first (can be deferred to 2019), Nashville's second
Top assets: D Nikita Zadorov, LW Blake Comeau, LW J.T. Compher
Game plan: The Avalanche have made an impressive turnaround from their disastrous 2016-17 season, but they are not quite ready to compete for a Stanley Cup. The best thing they can do at the deadline is stay the course. If they are inclined to make a move or two, it should be to sell off any upcoming free agents and/or players who aren't part of the long-term plan.
Pacific Division
Vegas Golden Knights (29-10-2)
Projected cap space: $8.2 million
2018 draft picks: Rounds 1, 2, 5, 6, Pittsburgh's fourth, Carolina's fifth, Toronto's sixth
Top assets: LW Brendan Leipsic, C Oscar Lindberg, LW William Carrier
Game plan: It wasn't that long ago that Vegas' plan would have been to sell off upcoming free agents at the deadline. Now that they have taken over first place in the Pacific and have proven to be a contender in the West, the Golden Knights should be searching for rentals to help with their playoff run. With more draft and prospect capital than most teams, Vegas could even throw its name into the ring for superstars who may be on the market, like John Tavares or Erik Karlsson. Yes, seriously.
Los Angeles Kings (24-13-5)
Projected cap space: $3.9 million
2018 draft picks: Rounds 1-4, 6, Montreal's fourth, New York Islanders' sixth
Top assets: C Nick Shore, D Alec Martinez
Game plan: Sporting the league's best defense and a resurgence from Anze Kopitar and Dustin Brown, the Kings are back to looking like the Stanley Cup version of years past. Add them to the long list of win-now Western Conference contenders who need more scoring. The Kings could take a big swing by dealing solid defenseman Alec Martinez for a quality forward who is under contract beyond 2017-18. Otherwise, they will jockey for position in the rental market.
San Jose Sharks (21-13-6)
Projected cap space: $5.1 million
2018 draft picks: Rounds 1, 4-7
Top assets: RW Timo Meier, RW Jannik Hansen, LW Mikkel Boedker
Game plan: The Sharks have faded into the middle since their Stanley Cup Final appearance two years ago. With Joe Thornton in possibly his final season, San Jose likely feels compelled to try to compete this spring, but they are fighting an uphill battle, with major issues up front and on the back end. It might be time to start thinking long-term by moving out veterans.
Calgary Flames (22-16-4)
Projected cap space: $1.8 milion
2018 draft picks: Rounds 3, 4, 6, 7, Florida's fourth, Detroit's seventh
Top assets: RW Curtis Lazar, C Sam Bennett, RW Jaromir Jagr
Game plan: While Calgary has received strong performances from their core players, the Flames have not yet become a top team in the West as they expected. Adding rentals to slightly increase their playoff odds wouldn't make much sense, but the Flames could make a player-for-player hockey trade to acquire someone under contract beyond this season, or make a franchise-altering move by trading Sam Bennett -- the No. 4 overall pick in 2014 -- who has just 16 points this season.
Anaheim Ducks (19-15-9)
Projected cap space: $4.1 million
2018 draft picks: Rounds 1-6, New Jersey's third
Top assets: LW Nick Ritchie
Game plan: With key players like Ryan Kesler and Hampus Lindholm back in the lineup, the Ducks can be a contender again. Going back to the summer, they have been linked to Buffalo Sabres scorer Evander Kane. His size and speed would make the Ducks a scary team come playoff time. If the price is too high for Kane, Anaheim doesn't have to go crazy to add a forward. They could stand still at the deadline and remain a dangerous team -- as long as they remain healthy.
Edmonton Oilers (18-23-3)
Projected cap space: $8.4 million
2018 draft picks: Rounds 1-4, 6, 7
Top assets: C Ryan Strome, C Ryan Nugent-Hopkins, C Drake Caggiula
Game plan: Considering the trades that have blown up on the Oilers recently, it might be best to wait until the offseason to start solving problems rather than desperately dealing at the deadline. Edmonton has painted themselves into a corner with long-term deals for underwhelming veterans like Milan Lucic and Kris Russell, making it difficult to add star-level talent without trading away 2011 first-overall pick Ryan Nugent-Hopkins.
Vancouver Canucks (16-21-6)
Projected cap space: $362,000
2018 draft picks: Rounds 1-3, 5-7
Top assets: C Henrik Sedin, LW Daniel Sedin, LW Thomas Vanek
Game plan: It's a buyer's market, and the Canucks are in a position to sell, sell, sell. The biggest question is whether the Sedin twins would OK a trade, or if any team could afford both of them -- because we all know they're not going anywhere separately. If such a deal could be reached, the Canucks could jump-start their rebuild with picks and prospects. If not, they will be looking to pick up whoever they can for deadline-deal regular Thomas Vanek. While it took a bit longer than some hoped, the Canucks are finally headed in the right direction.
Arizona Coyotes (10-27-6)
Projected cap space: $16.9 million
2018 draft picks: Rounds 1, 3, 4, 6, 7, Minnesota's second
Top assets: D Oliver Ekman-Larsson, D Luke Schenn, LW Anthony Duclair
Note: This column was originally published prior to the trade sending Duclair and Adam Clendening to the Blackhawks in exchange for Richard Panik and Laurent Dauphin.
Game plan: If the Coyotes don't feel like they can keep Ekman-Larsson beyond next season, it would be wise to put him on the trade market. It appears they are still years away from contention, though they have the foundation to make an Avalanche-like jump to respectability in 2018-19.