The NHL's annual holiday roster freeze begins at 11:59 PM ET on Dec. 19 to 12:01 AM ET on Dec. 28. If the media rumor mill is anything to go by, there could be some activity in the trade market before then.

Twelve trades have taken place since this season began on Oct. 4. Among the most recent was the Colorado Avalanche shipping goaltender Justus Annunen to the Nashville Predators for goalie Scott Wedgewood on Nov. 30, followed later that day by the Columbus Blue Jackets shipping defenseman David Jiricek to the Minnesota Wild.

The most notable move thus far occurred on Dec. 6 as the New York Rangers traded Jacob Trouba to the Anaheim Ducks. The 30-year-old defenseman was No. 3 on our December 2024 Trade Targets List.

Trouba wasn't the only notable player to surface in trade rumors recently. There was speculation regarding Pittsburgh Penguins center Evgeni Malkin, Vancouver Canucks center J.T. Miller and Calgary Flames center Nazem Kadri.

How much stock should we put into this conjecture? Follow along as we break them down to determine those worth buying or selling. Let us know what you think in the app comments below.

Brady Tkachuk for Alexis Lafrenière?

The New York Rangers surprised the hockey world on Dec. 6 by trading defenseman Jacob Trouba to the Anaheim Ducks for Urho Vaakanainen and a 2025 fourth-round pick. That deal came just a week after reports indicated Rangers GM Chris Drury was open to offers for several veteran players.

Larry Brooks of the New York Post indicated that the Trouba trade was just the beginning as Drury attempts to shake up his struggling roster. He claimed that Ottawa Senators captain Brady Tkachuk had become the Rangers' primary trade target.

Tkachuk, 25, is among the league's top power forwards. He's in the fourth season of an eight-year contract with an average annual value of $8.2 million and lacks no-trade protection this season. Brooks believes adding the gritty Tkachuk would "immediately change the Rangers' identity.

Brooks suggested it could take a significant package offer to pry Tkachuk away from the Senators, and would likely include playmaking winger Alexis Lafrenière. However, TSN's Darren Dreger reported no trade talks between the two clubs, pointing out that the Senators had publicly rejected all trade offers for their captain.

Buy or Sell: Sell

The Ottawa Sun's Bruce Garrioch reports the Senators have no intention of trading Tkachuk, citing a "well-placed source" who said the club has no plans to trade their captain and never discussed it. Brooks subsequently walked back his earlier report, saying Tkachuk was the prototype forward they sought.

Stats and standings (as of Dec. 6, 2024) via NHL.com. Salary info via PuckPedia.

Could The Toronto Maple Leafs Pursue Nazem Kadri?

Calgary Flames center Nazem Kadri began his NHL career with the Toronto Maple Leafs until traded to the Colorado Avalanche in 2019. He spent three seasons with the Avalanche, helping them win the Stanley Cup in 2022 before signing a seven-year contract with the Calgary Flames.

Some observers believe the Maple Leafs should bring back Kadri, suggesting they need a physical second-line center if they're to contend for the Stanley Cup. Former Sportsnet analysts Doug MacLean and Jeff Marek recently made the case for the Leafs to bring back the 34-year-old center.

Kadri had been the subject of offseason trade conjecture after the Flames traded away several key players last season. It was assumed he would prefer playing for a contender instead of a rebuilding club. However, he told reporters during training camp to "pump the brakes" on the speculation, claiming he loved the club and the city.

On Nov. 29, Sportsnet's Eric Francis was asked his opinion about the recent rumors. He believes Kadri would draw interest if the Flames put him on the trade block. However, he doesn't think they're shopping him or intend to do so anytime soon.

Buy or Sell: Sell

Assuming Kadri waives his no-movement clause, the cap-strapped Leafs can't afford his annual average value of $7 million through 2028-29 without shedding a lot of salary first. Even if the Flames retain half of his cap hit it could complicate efforts to re-sign pending UFAs Mitch Marner or John Tavares.

Could the Vancouver Canucks Trade J.T. Miller?

The Vancouver Canucks emergence last season as a playoff contender was partly due to J.T. Miller. A skillful and intense two-way center, the 31-year-old was their leading scorer last season with a career-high 103 points as the Canucks finished with 109 points, sporting the third-best record in franchise history.

Since Nov. 19, Miller has been on an indefinite leave of absence for personal reasons. The lack of details prompted some observers to suggest he had clashed with head coach Rick Tocchet while another believed he didn't get along with young star Elias Pettersson.

Some even wondered if Miller would be traded, suggesting the Boston Bruins and New York Rangers as destinations. However, Sportsnet's Elliotte Friedman reported on Dec. 5 that he didn't believe Miller had requested a trade.

Canucks president Jim Rutherford sought to quell the conjecture. On Dec. 5, Patrick Johnston of The Vancouver Province reported Rutherford wanted the baseless rumors to stop, calling them "disrespectful". He also indicated that he's not trading the center, saying the team stood by him.

Buy or Sell: Sell

On Nov. 19, Johnston reported Miller had tried to play through an upper-body injury but the emotional weight of doing so overwhelmed him. The veteran center took the time off to regain his focus. He was also selected to Team USA for the 2025 4 Nations Face-Off in February, suggesting he could soon return to the Canucks lineup.

Evgeni Malkin to the Dallas Stars?

It's been a difficult season for the Pittsburgh Penguins thus far, spending most of it near the bottom of the Eastern Conference standings. A recent four-game win streak has them within striking distance of a wild-card berth, but they remain a fixture in the trade rumor mill.

Most of the focus is on the Penguins' pending unrestricted free agents like Marcus Pettersson or players with a year or two left on their contracts like Noel Acciari and Michael Bunting. They're likely to become trade candidates if general manager Kyle Dubas becomes a seller at the trade deadline.

However, Cam Robinson of Elite Prospects took to "X" on Dec. 4 citing sources suggesting the Dallas Stars could be interested in long-time Penguins center Evgeni Malkin. The Stars could seek a replacement for Tyler Seguin, who's out for four to six months following hip surgery.

Robinson acknowledged Malkin's full no-movement clause and the difficulty of coming up with a suitable trade offer. Nevertheless, he thinks they could put Seguin and his $9.9 million cap hit on a long-term injury reserve and use the cap savings to take a run at landing Malkin.

Buy or Sell: Sell

The Athletic's Penguins' beat writer Rob Rossi dismissed this notion. He compares the Malkin rumors to those associated with team captain Sidney Crosby, indicating they're not happening. Both players have indicated their intent to finish their careers with the Penguins.

Will Mikko Rantanen Become A $14 Million Man?

Mikko Rantanen has become a vital member of the Colorado Avalanche. In his 10-season NHL career, the 28-year-old forward has become one of the league's elite scorers, helping the Avs win the Stanley Cup in 2022. From his breakout performance in 2017-18 through 2023-24, he's eighth overall with 579 points in 486 games.

This season, Rantanen is among the league's leading scorers with 15 goals and 20 assists for 35 points in 27 games, sitting seventh as of Dec. 6. He's also second among Avalanche scorers.

Rantanen is in the final season of his six-year contract with an average annual value of $9.3 million. He's in line for a significant pay raise and will be among next summer's top unrestricted free agents unless the Avalanche can sign him before the market opens on July 1.

On Nov. 28, TSN's Pierre LeBrun reported Rantanen believes he could make $14 million annually on the open market. The highest-paid player on the Avalanche is MacKinnon with an AAV of $12.6 million. LeBrun wondered if the Avs might get him signed for less than that.

Buy or Sell: Buy

Rantanen could accept a little less than MacKinnon's cap hit to stay in Colorado. Based on LeBrun's report, however, it could cost the Avalanche more than that. With the salary cap projected to rise to $92.5 million next season, he won't have difficulty finding a team willing to pay him $14 million annually.