The New York Islanders are holding down the third spot in the Metropolitan Division coming out of the Olympic break. Few expected them to be here after last year's disastrous season. But new Islanders general manager Mathieu Darche now has to manage his first NHL trade deadline with playoff expectations looming. What are their dream and nightmare scenarios heading into March 6?

The Islanders have just over $6 million in cap space heading into the deadline with a cupboard full of picks and prospects to deal. They also have two pending free agents, JG Pageau and captain Anders Lee, who could bring in more future assets if they decide to sell. Darche has the opportunity to go either direction at the deadline, which sets up drastically different scenarios.

What should Islanders fans be dreaming of ahead of the trade deadline? And what disastrous situations should keep them up at night?

The Islanders could make a big splash as a buyer

 St. Louis Blues center Robert Thomas (18) makes a quick pass during first period against the Utah Mammoth at Delta Center.
Peter Creveling-Imagn Images

Matthew Schaefer has given the Islanders new life with his Calder Trophy-caliber season. His play on defense has invigorated the locker room and the fan base all season long. Darche should reward the team by making a big splash at the trade deadline, which would be an Islanders fan's dream. St Louis Blues center Robert Thomas should be the goal for Darche.

The Blues are in the basement of the league with a new general manager coming in next season. Both Thomas and Jordan Kyrou are reportedly on the trade block as Alexander Steen is likely going to start a rebuild. Both players have trade protection, but playing for an up-and-coming Islanders team could be enough to get them to waive.

The Islanders need to improve their scoring, which Kyrou brings more than Thomas. But centers are key, and Thomas can take draws and push Mathew Barzal back to the wing. Either player would be a great fit for New York, which has the assets to make this deal.

The Islanders have two first-round picks this year, so parting with the Avalanche's pick would be a wise move for one of these players. Their top forward prospect, Cole Eiserman, would be part of the deal, as could Pageau, to clear enough roster space.

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Even if it is a pending free agent that the Islanders grab, adding something at the deadline is a must for Darche. This team could use a boost after their electric first two-thirds of the season. Darche has already given them Ondrej Palat and Carson Soucy, and more should be on the way.

Doing nothing is always the worst-case scenario

The NHL trade deadline is usually one of the most active days of the league year. Contenders load up, bottom-dwellers sell off and prepare for the draft, and the teams in the middle have to make a choice. Those teams in the middle are often the most intriguing, which is where the Islanders will sit on March 6. That does not mean that Darche can let the deadline go by without picking a side.

The Islanders have stood pat in the past, namely when they were guaranteed to miss the 2022 Stanley Cup Playoffs. Bringing back Semyon Varlamov did help them down the road, but keeping Cal Clutterbuck was meaningless. The draft pick they could have gotten back may have changed things. Draft picks are all lottery tickets, and prospects are not much more likely to hit, but sometimes, that is the best way forward.

If Pageau and Lee remain on the Islanders' payroll on March 7, that means they are making a playoff push. But this forward group is not good enough to make a legitimate championship run without a significant addition. Aiming for the middle of the pack is not going to help get Schaefer playoff experience and make the team enticing for free agents to join.

Darche's deadline moves may be impacted by his opinions on Lou Lamoriello's draft picks. Eiserman leads the pack amid a solid season with Boston University. But the Terriers are not likely to make the NCAA Tournament, so he could be joining the Islanders soon. If he sees Eiserman as the answer to the Islanders' scoring woes this season, it could be a stand-pat deadline.