Fantasy: Analysis of every move from 1st wave of free agency

Recent fantasy articles

• Winners & losers from Hopkins-Johnson trade
• Fantasy free-agent index
• Offensive team needs heading into free agency

With legal tampering underway, several players have already made their intentions known by agreeing to deals with new teams.

Let's take a look at all the notable skill-position signings so far - and what they'll mean for fantasy owners.

Stefon Diggs, WR, Bills

Trade: Bills acquire Stefon Diggs, 7th-round pick;
Vikings get 1st-, 5th-, and 6th-round picks in 2020 and 2021 4th-round pick

You came here expecting to read about signings, and you'll find those below. But trades stole the headlines on the unofficial first day of free agency. In a move eerily reminiscent of last year's short-lived trade for Antonio Brown, the Bills pulled off another late-night swap to bring in a playmaker capable of rounding out their receiving corps. However, it's a better real-life move than one that will generate the most fantasy production. Though escaping the Vikings' run-heavy system is a plus, Diggs will struggle to post consistent numbers on a Bills offense that finished 24th in pass attempts and already features John Brown and Cole Beasley. Diggs is the best of the bunch, but he can't be viewed as more than a fringe top-24 fantasy wideout, and Brown will be lucky to stay in the WR3 ranks. The real beneficiary is Josh Allen, who gets another weapon to aid in his development, giving him an excellent chance to repeat as a QB1 in fantasy.

Deandre Hopkins, WR, Cardinals
David Johnson, RB, Texans

Trade: Cardinals acquire Hopkins, 4th-round pick;
Texans get Johnson, 2nd-round pick

Hopkins is the WR1 the Cardinals desperately need to pair with Kyler Murray, boosting the young quarterback's stock even higher heading into his sophomore season. In Houston, the Texans' search for a true lead running back might be over if Johnson can bounce back from an injury-plagued 2019 campaign. You can read our complete breakdown of both teams' fantasy winners and losers of this deal here.

Hayden Hurst, TE, Falcons

Trade: Falcons acquire Hurst, 4th-round pick;
Ravens get 2nd- and 5th-round picks

Though the Diggs and Hopkins deals are getting all the attention, the Falcons quietly filled their void at tight end after (spoiler alert) Austin Hooper signed with the Browns. Hurst is a former first-round pick whose career has been complicated by injuries that pushed him down the depth chart in Baltimore. In Atlanta, he'll fall into the same ideal setting that helped Hooper emerge as a strong TE1 in fantasy. The Falcons are often trailing, and defenses are usually concerned about stopping Julio Jones and Calvin Ridley, forcing Matt Ryan to check down. Additionally, offensive coordinator Dirk Koetter has a history of featuring the tight end. Add Hurst to a growing list of late-round tight ends who offer major upside in 2020.

Amari Cooper, WR, Cowboys
Dak Prescott, QB, Cowboys

Cooper's contract: 5 years, $100 million
Prescott's contract: Franchise Tag

We all knew the Cowboys would keep Prescott in Dallas, but their inability to reach a long-term contract caused Cooper to hit the open market Monday. Fortunately, the star wideout wasn't sitting around for long as he's reportedly on the verge of inking a megadeal to play in Jerry World for the next five years. Prescott is a high-ceiling, high-floor fantasy asset who's been a QB1 in each of his NFL seasons and will continue to have potential as a top-five fantasy quarterback with his favorite receiver in the fold. As long as Cooper stays healthy, he's squarely in the top 10 at his position, as well.

Austin Hooper, TE, Browns

Contract: 4 years, $44 million

There weren't many teams capable of replicating the fertile situation Hooper enjoyed in Atlanta. It's why we highlighted him as one free agent destined to disappoint with his new team. In Cleveland, he gets elite money among players at his position, but he'll face immense competition for targets in the form of Odell Beckham Jr., Jarvis Landry, Nick Chubb, Kareem Hunt, and even David Njoku. New head coach Kevin Stefanski was heavily reliant on two-tight-end sets in Minnesota, so it's not a foregone conclusion Njoku gets dealt; Hooper might be the Kyle Rudolph to Njoku's Irv Smith Jr. Either way, Hooper won't see the volume he did in 2019, which makes him a low-end TE1 moving forward.

Randall Cobb, WR, Texans

Contract: 3 years, $27 million

Out goes Hopkins via trade and in comes a severely declining Cobb, as injuries over the last few seasons have taken their toll. The problem with grading a deal like this: Deshaun Watson can make anyone look good - including Bill O'Brien - and with Will Fuller's injury woes, we may see Cobb get more volume than expected. Even so, the 29-year-old slot receiver is living off past reputation, which makes him the type of player to avoid in fantasy drafts. In one day, the Texans' receiving corps went from a position of luxury to one of genuine concern.

Jimmy Graham, TE, Bears

Contract: 2 years, $16 million

If you're drafting Graham for your fantasy roster, you're doing it wrong. The 33-year-old is a shell of his former self and isn't even making an impact in the red zone anymore. He wasn't producing with Aaron Rodgers in Green Bay. Whether it's Mitch Trubisky or someone else throwing passes, Graham won't be a fantasy starter in Chicago.

Kenyan Drake, RB, Cardinals

Contract: Transition Tag

The Cardinals placed the transition tag on Drake early in the day, giving them the option to match any offer he might get on the open market. With the team trading David Johnson to the Texans, it's obvious Drake isn't leaving Arizona. And why would he after an eight-game stretch that saw him post top-five fantasy numbers in Kliff Kingsbury's offense? Following the addition of Hopkins and perhaps a couple more moves on the offensive line, this attack will be even more dangerous in 2020. Drake deserves to be in the conversation as a borderline top-12 fantasy back.

Derrick Henry, RB, Titans
Ryan Tannehill, QB, Titans

Henry's contract: Franchise Tag
Tannehill's contract: 4 year, $118 million

Unlike the Cowboys, the Titans managed to get one of their two big-ticket free agents under contract before the deadline, though it still feels odd to refer to Tannehill as a "big-ticket free agent." Tennessee's playoff success wouldn't have been possible without him, though, so this was the move to make short of landing Tom Brady. It'll be interesting to see where Tannehill's ADP settles in fantasy drafts, but he should be approached as a QB2 with upside for now. Let another fantasy owner take the risk of finding out if Tannehill can replicate his magical second half over a full season. Henry, meanwhile, remains a mid to low-end RB1 whose slow starts tend to be forgotten thanks to his late-season explosions. Tennesee demonstrated its faith in the hulking 26-year-old by assigning him the franchise tag, but he won't be a top-five fantasy RB until the Titans get him more involved as a pass-catcher.

A.J. Green, WR, Bengals

Contract: Franchise Tag

Green has expressed a desire to stay in Cincinnati, but whether he's willing to play under the franchise tag is another question yet to be answered. The prospect of catching passes from future first overall pick Joe Burrow should be enticing for the 31-year-old receiver, who might benefit from a prove-it year after missing significant time due to injury in three of the last four seasons. Green averaged 79 receptions, 1,173 yards, and eight touchdowns over his first seven NFL campaigns prior to 2018, but his draft position will vary wildly from league to league until we see him back on the field and competing. The impending arrival of Burrow is enough to push him up my board and into fringe WR2 range.

Hunter Henry, TE, Chargers

Contract: Franchise Tag

Injuries have delayed Henry's breakout, and now uncertainty at the quarterback position in Los Angeles takes some of the shine from his fantasy value. The 25-year-old's not far from elite in terms of talent, but Philip Rivers' dependence on tight ends can't be overstated. With the veteran passer gone, Henry's stock is in limbo until we know who's under center for the Chargers in Week 1. If you're drafting today, Henry is a mid-range TE1 at best given the target competition presented by Keenan Allen, Mike Williams, and Austin Ekeler.