Welcome back to The Hockey News' NHL power rankings, where we rank all 32 teams based on their weekly performance.

The NHL trade deadline is upon us. With the Boston Bruins trading Trent Frederic to the Oilers on Tuesday, on top of losing Brad Marchand to a week-to-week injury, it certainly looks like they’re throwing in the towel.

In this week’s NHL power rankings, we’re updating our list of contenders and lottery-bound teams, and everything in between, from our U.S. Thanksgiving edition.

1. Winnipeg Jets (42-16-4, +70. Previous: 1)

Top-tier Cup contender. The Jets don’t have to do much at the deadline. There’s case to be made the Jets don’t have to do anything drastic after some uncharacteristically splashy moves that didn’t pan out last season. Adding some size and another center or defenseman would be nice, but they have to be careful they don’t bring on too much carry-on baggage.

2. Washington Capitals (39-14-8, +59. Previous: 2)

They’ve moved from dark horse to a top Cup contender in a magnificent season where virtually everything has gone their way. Like the Jets, it doesn’t feel like the Capitals have to do much asides from adding a few bottom-six pieces.

3. Dallas Stars (40-19-2, +52. Previous: 3)

The Stars lead the way among Cup contending teams in a tier just below the Jets and Caps, which have carved out significant leads in their respective conferences. Since Jan. 1, however, the Stars have the NHL’s best points percentage (.740), slightly ahead of the Jets and Caps. The Stars are missing key players – Tyler Seguin and Miro Heiskanen – and at full strength, they might be the league’s most complete team.

4. Florida Panthers (38-21-3, +34. Previous: 5)

Not at the top of the list but definitely still a Cup contender. Adding Seth Jones shores up their weakest position, and Matthew Tkachuk will be healthy just in time and activated from LTIR for Game 1 of the opening round. (I’m only half kidding about this part).

5. Toronto Maple Leafs (38-20-3, +21. Previous: 4)

Yes, we all know about the Leafs’ playoff history, but this is where coach Craig Berube’s supposed to make the big difference, right? The Leafs are once again a fantastic regular-season team despite injuries, and we can’t discount that. They’re a good contender for the Cup but, again, are a cut below the favorites and the more recent winners because even we have a mental block when it comes to thinking the Leafs can win.

6. Tampa Bay Lightning (36-21-4, +58. Previous: 6)

The Lightning’s recent winning streak has me convinced they’re strong Cup contenders again. It’s a wide-open race so the criteria is a little more lax, but seriously, who wants to face a red-hot Andrei Vasilevskiy in the playoffs with a core that has plenty of Cup-winning experience and arguably the best coach in the league?

7. Colorado Avalanche (36-24-2, +19. Previous: 12)

They have a mostly healthy lineup (finally), and they’ve been really quick to address any needs their team may need, most recently acquiring Ryan Lindgren to shore up their blueline. They’re definitely a strong Cup contender with the changes they’ve made since the start of the season.

8. Edmonton Oilers (35-22-4, +17. Previous: 8)

Any time you have Connor McDavid and Leon Draisaitl, you should be a Cup contender, but there are too many holes in their lineup to address as buyers. The Oilers are just above the mushy middle, but they just can’t afford to have more than a couple bad goaltending performances in the playoffs.

9. Carolina Hurricanes (36-22-4, +26. Previous: 7)

The Hurricanes were ranked No. 1 in the U.S. Thanksgiving edition, and you’d think adding Mikko Rantanen pushes them higher up the list. But, that’s not really the case here, as the Canes are going through their worst stretch of the season. While they should be still considered Cup contenders due to their strong regular-season play, recent events have not quelled any of the doubts regarding their ability to win the playoffs.

10. Los Angeles Kings (31-20-8, +8. Previous: 9)

The Kings are falling off a little despite Kevin Fiala having another strong second half, and they fall well short of being true Cup contenders. They’re assured of a playoff spot in a weak Pacific Division, but they also look like a team that will bow out in the first round again.

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11. Vegas Golden Knights (36-18-6, +33. Previous: 10)

For once, the Knights aren’t being accused of LTIR shenanigans, but behind an MVP-caliber season from Jack Eichel and a deep blueline, they should be considered strong Cup contenders. Their goaltending is a bit weak, but locking up the division title to ensure home-ice advantage is huge for a team that barely loses at home.

12. New Jersey Devils (33-24-6, +31. Previous: 11)

The Devils were on the verge of Cup contender status, but they’ve slid back, and I’m far less convinced than I was in late November. Losing Jack Hughes for any stretch of time will hurt, and they’ve won consecutive games just once (!) since Dec. 28. They’re a Cup hopeful, at best.

13. Columbus Blue Jackets (30-23-8, +5. Previous: 15)

Among the playoff hopefuls in the East, the Jackets are in one of the better positions to capture a wild-card spot, making them now playoff contenders. Their offense is excellent, and their forward depth is deep right now even without Sean Monahan and Cole Sillinger.

14. Minnesota Wild (36-22-4, -2. Previous: 14)

At one point, the Wild seemed like a dark horse for the Cup behind Kirill Kaprizov, but those thoughts have long dissipated. They’re assured of a playoff spot, but what’s this team’s ceiling – maybe the second round? The Wild are buyers, having added Gustav Nyquist, but without a healthy Joel Eriksson Ek and Kaprizov, this team’s unlikely to make a deep run. Their best chance is next season when the cap penalties come off the books.

15. New York Rangers (31-26-4, +4. Previous: 21)

The Rangers avoided a mid-season fade, and following a couple of significant trades, including one for J.T. Miller that’s added some snarl and physicality to their lineup, they’re back in the playoff race. They’re not Cup contenders as most had expected them to be, but they're playoff contenders that find themselves holding down the second wild-card spot.

16. Montreal Canadiens (30-26-5, -20. Previous: 16)

I wrote off the Canadiens too soon. They’ve gone from lottery-bound to playoff contender. With their five-game winning streak, they have now pulled to within one point of a wild-card spot. I was unsure last time when Martin St-Louis’ squad would make that leap, but they definitely have Nick Suzuki leading the way and Lane Hutson making a strong case for the Calder. The question is whether they stand pat or sell.

17. Detroit Red Wings (30-25-6, -16. Previous: 13)

The Eastern Conference wild-card race will be big-time drama over the next month, and the Red Wings are in the thick of it. It’ll be interesting to see if Steve Yzerman is a buyer here. There was immense pressure to make the playoffs, and they can’t let it slip through their grasp again. Since hiring coach Todd McLellan, they’ve solidified their status as a playoff contender.

18. Ottawa Senators (30-25-5, -3. Previous: 17)

They’re a frustrating, streaky team, and despite going 1-5-1 since their five-game winning streak, they remain right in the mix. Linus Ullmark is trying his darndest, but the Sens keep bleeding shots. He’s allowed at least three goals in six-straight games but also faced close to 36 shots per game. They’ve moved up from being a playoff hopeful to one of the more formidable playoff contenders.

19. St. Louis Blues (29-27-6, -8. Previous: 24)

The Blues have moved from playoff hopefuls to playoff contenders in the wide-open West, and it’s worth noting the Blues have the easiest schedule with four more games against the West’s bottom three teams, according to tankathon.com. They may be sellers at the deadline, but imagine if they still make the playoffs.

20. Calgary Flames (29-23-9, -18. Previous: 19)

The previous edition noted the Flames are a playoff hopeful and only have a chance if Dustin Wolf is the best goalie in the NHL and they go on some sort of miracle run. Well, Wolf’s not the best, but he’s certainly among the very best, and that miracle run hasn’t happened with the Flames losing six of their past nine. Nonetheless, the Canucks’ lackluster play has opened the door for the Flames to sneak in, and they’re strong contenders for that final spot. There is always one more way to crack an egg.

21. Utah Hockey Club (27-25-9, -9. Previous: 22)

I stand by what I said in the previous edition: they’re a winning streak away from making the playoffs. Based on tankathon.com’s strength of schedule, Utah has the sixth-easiest schedule for the rest of the season. They have a shot, but with their inconsistency, I think they’re still just a playoff hopeful.

22. Vancouver Canucks (27-22-11, -19. Previous: 20)

The Canucks were a playoff contender but are now a playoff hopeful. They’ve had a disastrous season but remain in contention for a wild card, and they will likely remain in contention mostly because ownership demands them to. The Canucks definitely have a chance, but it’s looking bleak. As a testament to how choppy the waters have been lately, the Canucks could be buyers and sellers at the trade deadline.

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23. Philadelphia Flyers (27-27-8, -25. Previous: 23)

The Flyers rank 14th in the East but are four points out of a playoff spot. They remain a playoff hopeful – the same as last time – and literally nothing has changed. They were .500 at 10-10-3 at U.S. Thanksgiving and are still at .500 now. Either they must go on a winning streak, or coach John Tortorella must squeeze more out of this roster.

24. New York Islanders (28-26-7, -14. Previous: 27)

The running theme is that other than the Sabres and Penguins, all the other teams in the East are in the playoff hunt. Some are more in the chase than others, and you can count the Isles in the latter category. The Islanders are leaning on goaltender Ilya Sorokin a lot – he started both back-to-back games and won three of their last four – but they could still end up selling at the deadline.

25. Boston Bruins (28-27-8, -31. Previous: 18)

Brad Marchand and Charlie McAvoy are injured, and trading Trent Frederic to the Oilers on Tuesday was a small signal the Bruins might be throwing in the white towel. Mathematically, the Bruins still have a chance to make the cut, but their status as a playoff hopeful will ultimately depend on which direction management takes at the deadline.

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26. Anaheim Ducks (27-26-7, -25. Previous: 26)

The Ducks won three in a row to make it to .500 at U.S. Thanksgiving to give them a chance, and we’re seeing another surge with the Ducks going 9-3-1 since Jan. 23. They’ve been one of the more surprising teams this season because they’ve gone on extended losing streaks and had trouble scoring at various points throughout the season, but somehow, they’ve managed to grind their way here and give hope to their playoff chances.

27. Seattle Kraken (26-32-4, -19. Previous: 28)

No longer a playoff hopeful and not really lottery-bound, so they’re somewhere in the middle. Yup, that sounds like the Kraken, alright. There are good takeaways from this season – Joey Daccord and Shane Wright among them – but they’ve been unable to win consecutive games to really get any real momentum going.

28. Buffalo Sabres (24-30-6, -17. Previous: 25)

Nope, they’re no longer a playoff hopeful. The Sabres lost too much ground during their 12-game winless streak and headed towards the lottery. Once again, they will be a curious team to watch going into the summer and next season.

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29. Nashville Predators (22-32-7, -45. Previous: 29)

The Predators ranked 30th in the U.S. Thanksgiving edition only because I was being generous and labelled them as a playoff hopeful "out of respect more than anything." Well, they’re definitely lottery-bound now in a disastrous showing following a splashy, free-spending summer.

30. San Jose Sharks (17-37-9, -68. Previous: 31)

As we all expected, the Sharks are lottery-bound. Their talent, however, is evident on most nights when Macklin Celebrini plays. Selling Mikael Granlund was the right idea even if it meant more short-term pain.

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31. Chicago Blackhawks (19-35-7, -45. Previous: 32)

At their current pace, this will be the fourth-straight season where the Blackhawks have failed to win 30 games. It’s the longest active streak in the NHL.

32. Pittsburgh Penguins (24-30-10, -53. Previous: 30)

I noted they were "a winning streak and a hot goalie run" away from being a playoff hopeful, but neither has happened. The Penguins have won three games in a row just once (!) this season, and the only hot goalie run they’ve had this season is sending Tristan Jarry to the minors (twice).

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