Ja Morant remains the hottest name in trade speculation, but while there is a lot of smoke, how much fire there is remains in doubt.

The most interesting question may be: Do the Grizzlies already have an acceptable trade lined up and in their back pocket, and are they shopping Morant publicly, hoping another team steps up with a better deal? Or is this it? There's a lot to talk about, so let's break it down in bullet points.

• Does Ja Morant want to be in Miami? Yes. At least that's what NBA insider Rachel Nichols said she heard during the latest episode of the Open Floor podcast with Chris Mannix.

Morant may want to go to Miami, but does Miami want Morant? While the Heat have been star-hunting for a couple of seasons, they might only have interest in Morant if the price was low enough (keep reading the next bullet point about what that might be). Nichols goes on to make an excellent point about the Heat taking a potential flier on Morant.

"Heat Culture is not boot camp for wayward souls. It is not, 'Oh gee, the Heat will clean him up.' Heat Culture is, 'We are tough and we are disciplined, and you either play by our rules or you leave and go home. We are not here to babysit you, hope you get up to our level.' And that's why the players who have worked there have really worked.

"Morant, and the way he approaches the game, seems to me to be the opposite of that. I used to live down in Miami, I used to cover that team, it just seems to be the opposite of what that team represents and stands for. And I know he wants to go down there, from what I've heard, I just can't imagine that would be a smart move."

• East exec rips Morant. Everyone seems to have a fake trade idea for Morant, but many vastly overestimate Morant's value around the league — this is not the 2021 All-Star version of Moarnat teams would be trading for. Here is what ESPN’s Tim MacMahon said during the latest Hoop Collective podcast:

"He's not attacking the rim nearly like he used to be. … He's a bad jump shooter who's shooting more jump shots than ever. And I'll just quote an East executive from then: 'The combination of pain in the a**, injury-prone, not that good anymore, and big contract is a bad one.'"

• Realistic fake trades. About all those fake trades floating around, the return Memphis will get for Morant will be similar to what Atlanta got for Trae Young, who was dealt for expiring contracts. Zach Lowe explained this well on his podcast:

"I saw some fake trade where it was like [Andrew] Wiggins plus [Jamie] Jaquez and two first-round picks, and I was like, 'What are you smoking?' The Miami trade is more like [Tyler] Herro plus dead money [Terry Rozier] and not much more than that.

"I think some team will trade something real for him eventually. It's the ultimate 'buy low' thing; He'll never be this unhealthy. The off-court stuff is hopefully in the rear view. He's totally unmotivated there, and will get the motivated chip on his shoulder [once traded]."

• Motivated Morant. The idea that there is a Ja Morant revenge tour is what gives him a little more value than Young (that and the fact that Morant has, in the past, shown he can be a decent team defender). That said, Morant has not looked like an All-Star for a few seasons, he's not been consistently healthy for a while (he has not played six consecutive games since 2023), and he's not developed a 3-point shot that teams fear (20.8% this season). More concerning, scouts have told NBC Sports that Morant is not driving as much as he used to, not blowing by players and finishing inside (or kicking out) like he once did.

That said, there are teams willing to find out whether that is still in him and if he is motivated. Draymond Green laid out the positive case for Morant on his podcast.

"Needless to say, if Ja Morant is traded, whatever team lands him instantly gets better. Make no mistake—when you have that level of talent, your team improves overnight…. And sometimes when you think about reviving a career, etc., sometimes guys just need a fresh start. And I don't know that Ja feels he need a fresh start. I don't know the sentiment around that. But maybe he do. But I think nonetheless, if he does get a fresh start, I think we'll see the Ja Morant that we've grown accustomed to seeing."

• What might Memphis get in return? Expect the return for Morant in a trade to be a young player with potential who has struggled in his current setting, and expect any picks dealt to be heavily protected, or more likely swaps and second-round picks. Certainly not unprotected firsts. Teams are willing to take a flyer on Morant, but they are not giving up much to do so.

• Long-term money. What makes this trade different from Young and Atlanta is that the Hawks did not want to take back long-term money in any trade, but that is not the case in Memphis. Just last summer, the Grizzlies got four first-round picks and a swap for Desmond Bane, except at least one of those firsts (and really, two) was for taking on Kentavious Caldwell-Pope's contract (two years and $ 43 million). The same is true here, Memphis is letting teams know that if they get the right compensation, they will take on a longer contract as part of this trade, according to Kevin O’Connor at Yahoo and other reports.

• Is Toronto a destination? Along those lines, look north of the border. Toronto could be facing win-now pressure, which is why they would be open to a splashy trade, like one for Morant, reports Marc Stein at The Stein Line.

The Raptors want to get off Immanuel Quickley's salary (he is owed $ 97.5 million over three guaranteed seasons after this one), and if the Raptors are willing to include the right draft compensation, the Grizzlies will be open to the idea. How well the ball-dominant Morant fits with Scottie Barnes and Brandon Ingram is up for debate (what the Raptors need more is a center) but it's worth watching, this could be more than just smoke.

• More fake trades.At The Athletic, Zach Harper came up with a couple of realistic Morant trades: One to Brooklyn (a team others have mentioned as a dark horse) and one to Chicago. Would the Bulls want to pair Josh Giddey and Morant, moving Giddey more off the ball? Not sure they do, but Chicago needs talent so if the price was right… maybe?

• Jaren Jackson Jr. In all the talk about a potential Morant trade, other front offices are wondering if the Grizzlies will blow the whole thing up, specifically trading former Defensive Player of the Year Jaren Jackson Jr. (a player a lot of front offices covet). Teams are being told the Grizzlies have no interest in trading him, league sources told NBC Sports. That is not going to stop teams from asking.