With two weeks left before the NBA trade deadline, both the New York Knicks and Houston Rockets are interested in trading for New Orleans Pelicans guard Jose Alvarado, according to Chris Haynes of NBA on Prime.
“Jose Alvarado is a guy I know the Knicks have been monitoring. The Rockets have done some background on Alvarado,” Haynes said. “From what I was told, [Derik] Queen, [Jeremiah] Fears, Zion [Williamson], [Trey] Murphy, Herb Jones, I was told they will not be moved.”
Chris Haynes on the Pelicans players that are in trade talks:
"Jose Alverado is a guy i know the Knicks have been monitoring. The Rockets have done some background on Alverado. From what i was told Queen, Fears, Zion, Murphy, Herb Jones, I was told they will not be moved" pic.twitter.com/0ENuwIlkZP
— NBA Courtside (@NBA__Courtside) January 22, 2026
Haynes reported earlier this month that Queen, Fears, Williamson, Murphy, and Jones are all off limits in trade talks amid the Pelicans’ disappointing first half to the 2025-26 season.
If New Orleans ends up making a trade between now and the Feb. 5 deadline, the deal will likely involve Alvarado and at least one other role player, not any of the other aforementioned players.
Per The Athletic’s James Edward III, the Knicks are interested in acquiring Alvarado because the 6-foot guard “really applies pressure on ballhandlers night in and night out. He’s one of those infectious players, similar to [Josh] Hart, whose plays radiate throughout the rest of the group.”
Knicks, Rockets Seeking Jose Alvarado Trade
New York ended its four-game losing streak on Wednesday night with the most lopsided victory in franchise history, a record-breaking 120-66 home win over the Brooklyn Nets.
Before that blowout victory, however, the Knicks had dropped nine of their previous 11 games and trailed by 30 points in the first half of Monday night’s 114-97 home loss to Dallas.
The Knicks could use another reserve guard for backcourt depth.
Houston, meanwhile, could be monitoring Alvarado because the team is just 5-5 in its last 10 games. The Rockets also sit fourth in the Western Conference standings at 26-15.
AMEN THOMPSON THREW A PUNCH AT JOSE ALVARADO 🍿 pic.twitter.com/Vx6MgeiiTl
— Fullcourtpass (@Fullcourtpass) October 15, 2025
Despite Houston’s recent struggles, adding Alvarado right now might be awkward for Amen Thompson, who got into a scuffle with the Pelicans guard during a preseason game in October.
The Rockets may decide to make a move anyways, but their level of interest remains unclear.
Alvarado, 27, went undrafted out of Georgia Tech in 2021 and signed a two-way contract with the Pelicans. He’s appeared in 262 regular-season games (34 starts) with New Orleans across his five-year career.
Through 35 games off the bench this season, Alvarado is averaging 7.9 points, 2.8 rebounds, 3.3 assists, 1.0 steals, and 22.2 minutes per outing while shooting 42.4% from the field and 36.1% from deep.
