Is it too early to start talking trade options for the Nashville Predators?

No, given what we’ve seen so far.

Stuck in a five-game losing streak, the Predators have just five wins in their first 18 games. The offense is awful, scoring just 2.56 goals per game, and now their defense is faltering, allowing 22 goals in five games.

General manager Barry Trotz has dug them into this hole; now he needs to get them out of it.

Here’s how Trotz should sort the team’s trade options in the coming months, with the trade deadline coming March 6.

Untouchable: Filip Forsberg, Roman Josi, Nick Perbix, Matthew Wood

The list of players the Predators shouldn’t consider moving is short. Filip Forsberg, the franchise all-time leading goal scorer with a no-trade clause through 2030, isn’t going anywhere. Roman Josi, who is on injured reserve, also has a no-trade clause through 2028.

The other untouchables are defenseman Nick Perbix and forward Matthew Wood. Perbix is an excellent two-way defender, and he’s signed to a team-friendly, two-year deal. Wood, the youngest player on the roster, just scored his first hat trick and ranks third on the team in points (10). At 20 years old, he’s a big part of the Predators’ future.

Sell high: Ryan O’Reilly, Michael Bunting, Erik Haula

Ryan O’Reilly is Nashville’s best trade piece. He’s productive — he’s second on the team in points (13), behind Forsberg — and a workhorse up the middle. When the trade deadline approaches, plenty of teams will come calling for a two-way center with a superb playoff history. Plus, he’s not a rental: his $4.5 million annual contract runs through 2026-27.

The trade market has yet to be set, but O’Reilly could fetch a high pick and a good prospect at the deadline. Trotz needs to take advantage of that.

For Erik Haula and Michael Bunting, the phrase “sell high” is doing some heavy lifting. But Haula, at 10 points, is already halfway to his season total with New Jersey last season. Bunting is third on the team in goals (four) and is on an expiring contract.

Neither Haula nor Bunting will return a high pick, but you will lose them in the summer anyway.

Only if the price is right: Jonathan Marchessault, Nick Blankenburg, Michael McCarron, Luke Evangelista

Jonathan Marchessault started off hot, scoring four points in his first four games. But he has only two goals and zero assists in the past 11 games. His contract is too heavy to move easily: He’s owed $5.5 million annually through 2029 and has a modified no-move clause. Trotz would have to retain salary or sweeten the deal with a prospect to get someone to take him. Probably not worth it.

Nick Blankenburg, Michael McCarron and Luke Evangelista are inexpensive role players who are doing a fine job, given the state of the team. No need to move them unless someone falls in love and offers the moon.

‘It’s complicated’: Steven Stamkos, Juuse Saros

This is where it gets interesting. Could the Predators consider moving Steven Stamkos, the prize of their 2024 free agent class?

The issue is the size of his contract compared with his production. His cap hit is $8 million annually through 2028 and he has only three goals in 18 games this season, and 30 goals in 100 games for the Predators overall.

Stamkos has a full no-movement clause he would have to waive, something he might consider if things don’t improve. The fit would have to be perfect, but playoff-bound teams would line up to add Stamkos’ shooting ability to their lineup.

It’s the same for goaltender Juuse Saros. He’s in the first year of an eight-year deal, earning $7.74 annually, and has a full no-movement clause. But his production the past two seasons has been far below average: He has an .894 save percentage and a league-high 37 losses in that span.

Trotz convincing Saros to waive his no-movement clause seems less likely than convincing Stamkos to waive his, but both have to be on the table.

And the rest? No one’s calling

The remainder of the Predators’ roster is unmovable for various reasons. Brady Skjei isn’t productive enough for anyone to take on the remaining five years of his $7 million cap hit. Nicolas Hague was just acquired and signed to a four-year deal.

Fedor Svechkov, Justin Barron, Cole Smith and Spencer Stastney are not enough to move the needle for anyone. Justus Annunen is a backup goalie and not playing particularly well. Adam Wilsby and Ozzy Wiesblatt have some value, but the Predators seem keen on keeping them around.

Alex Daugherty is the Predators beat writer for The Tennessean. Contact Alex at jdaugherty@gannett.com. Follow Alex on X, the platform formerly called Twitter, @alexdaugherty1. Also check out our Predators exclusive Instagram page @tennessean_preds.