The Houston Rockets are exploring their options at the point guard spot, and one name that's surfaced on their radar is Jose Alvarado of the New Orleans Pelicans. According to reports, Houston has expressed some level of interest in the 27-year-old guard - and given the current state of their roster, the fit makes a lot of sense.
Alvarado, listed at 6-foot, is averaging 7.9 points and 3.3 assists in just over 22 minutes per game this season, while shooting 36.1% from beyond the arc. But his value goes beyond the box score.
He’s built a reputation as a relentless on-ball defender - the kind of player who can swing momentum with a single possession. That defensive edge, paired with his ability to knock down threes and run the offense in spurts, could be just what the Rockets need.
Houston’s backcourt has been in a bit of flux ever since Fred VanVleet went down with a serious knee injury back in September. VanVleet brought veteran leadership, floor-spacing, and a steady hand - all traits the Rockets are now trying to replace, at least temporarily.
But with the team operating just under the first-apron hard cap, they’re walking a financial tightrope. That’s why high-salary targets are mostly off the table, and more affordable options like Alvarado are drawing interest.
Alvarado’s contract - $4.5 million this season with a player option for the same amount next year - is team-friendly and manageable under Houston’s current cap constraints. If he opts in next season, the Rockets would still have flexibility to maneuver.
And if he plays well enough to opt out? That’s a good problem to have.
Of course, making the money work is always part of the puzzle. Houston would need to match salaries in any deal, and while Clint Capela’s $6.7 million salary has been floated as a potential trade chip, that situation just got more complicated.
With Steven Adams out due to a severe ankle sprain, Capela’s role suddenly becomes more crucial. He’s a proven veteran and a stabilizing presence in the frontcourt - especially important now that the Rockets are eyeing a playoff push.
That means Houston may need to look elsewhere on the roster for tradeable salaries. Veterans like Aaron Holiday, Jae’Sean Tate, and Jeff Green could help get a deal across the finish line financially, but none of them bring the on-court value that Alvarado does. To bridge that gap, Houston might have to include a draft pick or other asset to sweeten the pot - assuming New Orleans is even open to moving him.
And that’s no sure thing. The Pelicans may be sitting near the bottom of the standings at 10-36, but Alvarado is still young, still improving, and still fits the timeline of a team that could be reshaping itself for the future. Other teams could jump into the mix, too, especially given the scarcity of solid, low-cost point guards on the market.
For now, Alvarado is sidelined with a left oblique strain, though he’s expected to return soon. If and when he does, his play could either solidify New Orleans’ desire to keep him or boost his trade value even further.
The Rockets have made it clear they’re looking for help at the point, and Alvarado checks a lot of boxes - affordable, gritty, and capable of stepping into a meaningful role right away. Whether that interest turns into action remains to be seen, but with the trade deadline approaching, Houston’s front office has some decisions to make.