Knicks’ Eastern Conference title odds jump after NBA Trade Deadline

The Knicks and Giannis Antetokounmpo will have to wait until summer for a potential union.

In lieu of the blockbuster, Leon Rose opted for stability at the NBA Trade Deadline and the Knicks’ Eastern Conference odds increased marginally.

The Knicks still carry the second-shortest odds to make the NBA Finals at +340 via BetMGM after starting February at +350.

With Miles McBride’s return in question due to core muscle surgery, the Knicks acquired backup point guard depth by trading for Jose Alvarado from New Orleans for Dalen Terry and two second-round picks on Thursday. Alvarado adds perimeter pressure and energy off the bench, which the Knicks were lacking in the second unit. 

Alvarado was a target for the Knicks as they were also in search for a capable understudy to Jalen Brunson while Tyler Kolek had been servicing the role in McBride’s stead.

Terry was a flipped asset that the Knicks acquired in exchange for Guerschon Yabusele on Wednesday. This alleviated some cap space for the Knicks to absorb his $4.5 million player option for next season. 

The Knicks were leapfrogged by the Cavaliers, who are now +340 favorites to win the East.  Cleveland shifted into “win-now” mode by replacing Donovan Mitchell’s supporting cast. They shedded their three worst-performing regulars by net rating in Darius Garland, De’Andre Hunter, and Lonzo Ball and added James Harden, Keon Ellis, and Dennis Schroder. 

Miles McBride reacts during the second quarter of the Knicks’ win over the Kings on Jan. 27, 2026 at Madison Square Garden. IMAGN IMAGES via Reuters Connect

Harden, 36, was acquired in exchange for Garland and a second-round pick. Despite his age, Harden has been healthier and more effective than Garland, dropping 25.4 points per game to Garland’s 18.

Cleveland holds a +500 tag before the deadline. 

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The East-leading Pistons took a hit on the oddsboard, sliding from +320 favorites to +360.

Detroit acquired sharpshooter Kevin Huerter and Dario Saric in a three-team trade with the Bulls and Timberwolves on Tuesday. 

The Knicks remain five games behind the Pistons and tied for second place with the Celtics while the Cavaliers sit 7 ½ games behind in fourth.

Why Trust New York Post Betting

Sean Treppedi handicaps the NFL, NHL, MLB and college football for the New York Post. He primarily focuses on picks that reflect market value while tracking trends to mitigate risk.