NBA free agency officially kicked off on Monday evening as the negotiating window opened for eligible players and all teams across the league at 6 p.m. ET. Monday night was relatively quiet, but the first stunners of the new league year came Tuesday morning.

Los Angeles Lakers forward LeBron James has exercised his player option for the 2025-26 season, meaning he will return for a 23rd NBA campaign. While he bypassed the ability to become a free agent, James does not seem entirely set on returning to Los Angeles for an eighth season.

This is The Athletic’s daily sports newsletter. Sign up here to receive The Pulse directly in your inbox. Good morning! We hope you executed a sign-and-trade to acquire some hot dogs. NBA free agency is more or less over.

With most of the biggest moves having taken place, here's a look at four NBA teams whose stock is up, and four others whose stock is down.

Barely 24 hours after the Thunder's title parade capped the 2024-25 season, the 2025-26 offseason got underway with the NBA draft. That was followed Monday with the official opening of free agency. Free agency isn't the league-altering bonanza it was once because,

The market for the Warriors' restricted free agent is beginning to take shape. Meanwhile, teams are discussing a potential seven-team trade.

The Washington Wizards reportedly are entering the mix for young Golden State Warriors forward Jonathan Kuminga in NBA free agency.