The 2026 NFL Draft is rolling, and teams are already wheeling and dealing to shake up the first round. Seven first-round picks had already changed hands before Thursday night kicked off, and the action kept coming once the selections began. Here’s a no-nonsense look at the biggest trades so far, graded on the spot using Approximate Value charts, positional needs, cap implications, and each team’s short- and long-term outlook.
Cowboys and Dolphins Swap Picks Cowboys get: Dolphins’ No. 11 first-round pick Dolphins get: Cowboys’ No. 12 first-round pick + two Cowboys fifth-rounders (Nos. 177 and 180)
Cowboys grade: B Dolphins grade: B
Dallas saw Ohio State safety Caleb Downs sliding and refused to risk losing him. They gave up two late compensatory fifth-round picks to jump just one spot. According to ESPN’s draft-value metrics, Miami still came out slightly ahead in pure pick value, but this was a modest overpay for a non-quarterback. Downs had only a 12% chance of lasting to No. 11, so the Cowboys essentially secured a player many expected to go much earlier.
Downs is exactly what Dallas needs after finishing dead last in defensive EPA per play last season. This move makes sense for a defense crying out for playmakers.
For Miami, it was a clean win too. They picked up extra Day 3 capital and still landed Alabama offensive tackle Kadyn Proctor — a guy they likely would have taken at No. 12 anyway. Solid business on both sides.
Cowboys select Ohio State safety Caleb Downs at No. 11 in NFL draft after moving up 1 spot
Chiefs Move Up to No. 6 with Browns Chiefs get: Browns’ No. 6 first-round pick Browns get: Chiefs’ No. 9 first-round pick + third-rounder (No. 74) + fifth-rounder (No. 148)
Chiefs grade: D+ Browns grade: A-
Kansas City had the rare chance to pick in the top 10 after a rough 2025 and decided to climb even higher. They shipped a third- and a fifth-rounder to the Browns to jump three spots and grab LSU cornerback Mansoor Delane. Delane immediately addresses a glaring hole after losing two starting corners this offseason.
But was it worth it? The deal looked even on the old Jimmy Johnson chart, but modern Approximate Value data shows this was a bigger overpay than average for a non-QB move. The real issue? Delane had a strong chance (around 90% per the Draft Day Predictor) of falling to No. 9 anyway. The Chiefs may have surrendered valuable mid-round picks for nothing.
Cleveland, on the other hand, played it perfectly. Trading down early is one of the smartest things a team can do. The Browns still landed highly rated Utah offensive tackle Spencer Fano at No. 9 while walking away with extra draft ammo. Classic value move.
LSU’s Mansoor Delane officially a first-round NFL draft pick | LSU | nola.com
These early trades show how aggressive some front offices are willing to get when they see a player they love. The Cowboys added defensive help without giving up too much, while the Chiefs rolled the dice on immediate need. The Browns quietly came out as one of the clearest winners so far by turning position into future assets.
More deals are coming as the draft rolls on — we’ll keep updating the grades as the picks fly off the board.