The process is graded once, on the day, from what was knowable that day. The result is regraded on a fixed calendar until the trade is finished. The gap is the story.
5 trades on the ledger, 5 with a process grade, 5 overdue. Read on Nov 11, 2026.
Every Giants trade on the ledger: its process grade, its result grade now, and the next checkpoint.
Erik Miller and Carlos Gutierrez to the Red Sox for Marcelo Mayer
Aug 3, 2026Overdue
Boston Red Sox traded 2B Marcelo Mayer to San Francisco Giants for LHP Erik Miller and CF Carlos Gutierrez.
Sent
Erik MillerLHP, to BOS
Carlos GutierrezCF, to BOS
Received
Marcelo Mayer2B, from BOS, MLB at the trade
ProcessA-as of Aug 3, 2026
Result nowA-no regrade yet
OverdueSep 27season's end passed with no regrade
A+ABCDF
A-
Aug 3, 2026Sep 27, 2026season's end
The process grade, and why
The shape a 47-65 club should look for on every call; only the wait's length was not in any document.
The price: a reliever went at the top of his market, alongside a prospect described as a fourth-outfielder profile.
The return: five and a half seasons of a fourth overall pick came at a price set by his injury.
The risk: a 2025 wrist surgery, then a bone stress reaction in the left ulna with no reported timeline.
From 5 reports dated on or before Aug 4, 2026. Andie Townsend, written Sep 22, 2026. The piece.
The 5 sources
MLB Trade Rumors (Anthony Franco): Red Sox, Giants Swap Marcelo Mayer For Erik Miller; Mayer's service, options and control, batted-ball data, Miller's service and control, Gutierrez's rankings and FanGraphs description (Aug 3, 2026)
NBC Sports Bay Area (Angelina Martin): Giants trade Erik Miller, prospect to Red Sox for Marcelo Mayer; Mayer's 2025 wrist surgery and 2026 games by position, Gutierrez's Pipeline rank (Aug 3, 2026)
Baseball America: Red Sox Acquire Carlos Gutierrez, Erik Miller From Giants In Deal For Marcelo Mayer (Aug 3, 2026)
Kiley McDaniel, ESPN: MLB trade deadline 2026, ranking the 86 prospects who changed teams (Aug 4, 2026)
MLB Stats API: transactions for teamId 137 and each traded player; player lines by date range through 2026-08-03 at every level; game logs; schedule feed (Aug 3, 2026)
Every grade
A-Process, as of Aug 3, 2026, written Sep 22, 2026, Andie Townsend
·Rewritten Sep 24, 2026 for length. Grade and facts unchanged.
The calendar for this trade
Season's end, Sep 27, 2026
Opening day, Mar 25, 2027
The deadline, Jul 31, 2027 (date provisional)
Season's end, Sep 26, 2027
Season's end, Sep 24, 2028 (date provisional)
Season's end, Sep 30, 2029 (date provisional)
Season's end, Sep 29, 2030 (date provisional)
Final at Aug 3, 2031 or earlier
The lines
Each player's line since the trade, with its denominator and the date it was pulled.
Player
Since the trade
n
As of
Erik Miller MLBActive; on Boston Red Sox roster since 2026-08-03
ERA 3.24 · WHIP 1.38 · 28 K · 11 BB · 1 HR · K% .373 · BB% .147
16.2 IP, 75 BF, 17 G
Sep 22, 2026
Carlos Gutierrez ILInjured 7-Day; on Greenville Drive roster since 2026-08-03
Marcelo Mayer MLBActive; on San Francisco Giants roster since 2026-08-03
AVG .286 · OBP .348 · SLG .476 · OPS .824 · 1 HR · 2 BB · 13 K · 0 SBMLB San Francisco Giants, 4 PA; AAA Sacramento River Cats, 19 PA
23 PA, 5 G
Sep 22, 2026
Heliot Ramos to the Yankees
Aug 3, 2026Overdue
San Francisco Giants traded LF Heliot Ramos to New York Yankees for LHP Henry Lalane and SS Kaeden Kent.
Sent
Heliot RamosLF, to NYY
Received
Henry LalaneLHP, from NYY, A+ at the trade
Kaeden KentSS, from NYY, A+ at the trade
ProcessBas of Aug 3, 2026
Result nowBno regrade yet
OverdueSep 27season's end passed with no regrade
A+ABCDF
B
Aug 3, 2026Sep 27, 2026season's end
The process grade, and why
The one trade the club did not have to make, and it brought a fair price rather than a strong one.
The need: controllable through 2029 but pricier every winter, Ramos had struck out in 82 of 306 plate appearances.
The fit: New York had the league's most acute outfield need, Judge and Bellinger both on the injured list.
The risk: Lalane carried a shoulder history, and Kent was on the injured list the day of the trade.
From 6 reports dated on or before Aug 4, 2026. Andie Townsend, written Sep 22, 2026. The piece.
The 6 sources
MLB Trade Rumors (Connor Byrne): Yankees Acquire Heliot Ramos; service, salary, control, defensive record, Lalane and Kent rankings and lines (Aug 3, 2026)
MLB.com (Maria Guardado): Giants trade Heliot Ramos to Yankees; Pipeline rankings for Lalane and Kent (Aug 3, 2026)
Yahoo Sports (Jack Baer): Yankees acquire Heliot Ramos to fill injury-ravaged outfield; Judge and Bellinger on the injured list, Ramos against left-handers (Aug 3, 2026)
Kiley McDaniel, ESPN: MLB trade deadline 2026, ranking the 86 prospects who changed teams (Aug 4, 2026)
MLB Stats API: transactions for teamId 137 and each traded player; player lines by date range through 2026-08-03 at every level; game logs; schedule feed (Aug 3, 2026)
Grab Some Pine: The Giants Trade Arraez To Tampa Bay, And Five Other Calls (the deadline forecast; Silva's Ray valuation; the Skubal price; the 11-games-out standing) (Aug 2, 2026)
Every grade
BProcess, as of Aug 3, 2026, written Sep 22, 2026, Andie Townsend
·Rewritten Sep 24, 2026 for length. Grade and facts unchanged.
The calendar for this trade
Season's end, Sep 27, 2026
Opening day, Mar 25, 2027
The deadline, Jul 31, 2027 (date provisional)
Season's end, Sep 26, 2027
Season's end, Sep 24, 2028 (date provisional)
Season's end, Sep 30, 2029 (date provisional)
Season's end, Sep 29, 2030 (date provisional)
Final at Aug 3, 2031 or earlier
The lines
Each player's line since the trade, with its denominator and the date it was pulled.
Player
Since the trade
n
As of
Heliot Ramos MLBActive; on New York Yankees roster since 2026-08-03
San Francisco Giants traded LHP Robbie Ray to San Diego Padres for RHP Miguel Mendez and SS Joniel Hernandez.
Sent
Robbie RayLHP, to SD
Received
Miguel MendezRHP, from SD, A+ at the trade
Joniel HernandezSS, from SD, Rk at the trade
ProcessB+as of Aug 3, 2026
Result nowB+no regrade yet
OverdueSep 27season's end passed with no regrade
A+ABCDF
B+
Aug 3, 2026Sep 27, 2026season's end
The process grade, and why
Right trade, right week: a rental with a 3.08 ERA over 122 2/3 innings was sold before the ERA caught up.
The price: San Diego paid for an ERA about a run and two-thirds below his expected fielding-independent mark.
The return: Hernandez and Mendez beat the pre-deadline expectation of one upper-minors starter outside a buyer's top ten.
The risk: the better piece is five years away, and Mendez was on the injured list with a shoulder problem.
From 5 reports dated on or before Aug 4, 2026. Andie Townsend, written Sep 22, 2026. The piece.
The 5 sources
MLB Trade Rumors (Steve Adams): Giants Trade Robbie Ray To Padres; remaining salary and assignment bonus split, Mendez's shoulder and rankings, Hernandez's bonus and rankings (Aug 3, 2026)
Baseball America (Josh Norris): Giants Land Prospects Miguel Mendez, Joniel Hernandez From Padres For Robbie Ray (Aug 3, 2026)
Kiley McDaniel, ESPN: MLB trade deadline 2026, ranking the 86 prospects who changed teams (Aug 4, 2026)
MLB Stats API: transactions for teamId 137 and each traded player; player lines by date range through 2026-08-03 at every level; game logs; schedule feed (Aug 3, 2026)
Grab Some Pine: The Giants Trade Arraez To Tampa Bay, And Five Other Calls (the deadline forecast; Silva's Ray valuation; the Skubal price; the 11-games-out standing) (Aug 2, 2026)
Every grade
B+Process, as of Aug 3, 2026, written Sep 22, 2026, Andie Townsend
·Rewritten Sep 24, 2026 for length. Grade and facts unchanged.
The calendar for this trade
Season's end, Sep 27, 2026
Opening day, Mar 25, 2027
The deadline, Jul 31, 2027 (date provisional)
Season's end, Sep 26, 2027
Season's end, Sep 24, 2028 (date provisional)
Season's end, Sep 30, 2029 (date provisional)
Season's end, Sep 29, 2030 (date provisional)
Final at Aug 3, 2031 or earlier
The lines
Each player's line since the trade, with its denominator and the date it was pulled.
Player
Since the trade
n
As of
Robbie Ray MLBActive; on San Diego Padres roster since 2026-08-03
ERA 5.22 · WHIP 1.46 · 31 K · 26 BB · 7 HR · K% .179 · BB% .150
39.2 IP, 173 BF, 8 G
Sep 22, 2026
Miguel Mendez AAActive; on Richmond Flying Squirrels roster since 2026-08-18; also assigned to Scottsdale Scorpions (AFL/winter) since 2026-09-15
ERA 7.62 · WHIP 1.69 · 16 K · 7 BB · 2 HR · K% .258 · BB% .113AA Richmond Flying Squirrels, 10.2 IP; A San Jose Giants, 2.1 IP
13.0 IP, 62 BF, 5 G
Sep 22, 2026
Joniel Hernandez RkActive; on DSL Giants Black roster since 2026-08-03
San Francisco Giants traded 2B Luis Arraez and RHP Caleb Kilian to Philadelphia Phillies for RHP Marty Gair and RHP Ramon Marquez.
Came in as a free agent this winter: Luis Arraez (signed Feb 10, 2026), Caleb Kilian (signed Dec 14, 2025). The signing's row closes at this trade and its grade lives on the Free Agent Regrade page.
Sent
Luis Arraez2B, to PHI
Caleb KilianRHP, to PHI
Received
Marty GairRHP, from PHI, A+ at the trade
Ramon MarquezRHP, from PHI, A+ at the trade
ProcessA-as of Aug 3, 2026
Result nowA-no regrade yet
OverdueSep 27season's end passed with no regrade
A+ABCDF
A-
Aug 3, 2026Sep 27, 2026season's end
The process grade, and why
The right trade at the right time, at a price above what the week's market paid for a rental bat.
The price: Philadelphia took every remaining dollar on both Arraez and Kilian.
The return: Marquez was the best prospect in any of the five deals, with 93 strikeouts among 222 batters.
The risk: distance, because 30 High-A innings is three or four years from an answer.
From 4 reports dated on or before Aug 4, 2026. Andie Townsend, written Sep 22, 2026. The piece.
The 4 sources
MLB Trade Rumors (AJ Eustace): Phillies Acquire Luis Arraez, Caleb Kilian; remaining salaries, no-trade status, Kilian's control, Marquez and Gair (Aug 3, 2026)
Kiley McDaniel, ESPN: MLB trade deadline 2026, ranking the 86 prospects who changed teams (Aug 4, 2026)
MLB Stats API: transactions for teamId 137 and each traded player; player lines by date range through 2026-08-03 at every level; game logs; schedule feed (Aug 3, 2026)
Grab Some Pine: The Giants Trade Arraez To Tampa Bay, And Five Other Calls (the deadline forecast; Silva's Ray valuation; the Skubal price; the 11-games-out standing) (Aug 2, 2026)
Every grade
A-Process, as of Aug 3, 2026, written Sep 22, 2026, Andie Townsend
·Rewritten Sep 24, 2026 for length. Grade and facts unchanged.
The calendar for this trade
Season's end, Sep 27, 2026
Opening day, Mar 25, 2027
The deadline, Jul 31, 2027 (date provisional)
Season's end, Sep 26, 2027
Season's end, Sep 24, 2028 (date provisional)
Season's end, Sep 30, 2029 (date provisional)
Season's end, Sep 29, 2030 (date provisional)
Final at Aug 3, 2031 or earlier
The lines
Each player's line since the trade, with its denominator and the date it was pulled.
Player
Since the trade
n
As of
Luis Arraez MLBActive; on Philadelphia Phillies roster since 2026-08-03
Caleb Kilian ILInjured 60-Day; on Philadelphia Phillies roster since 2026-08-03
ERA 13.50 · WHIP 1.80 · 3 K · 2 BB · 1 HR · K% .188 · BB% .125
3.1 IP, 16 BF, 4 G
Sep 22, 2026
Marty Gair AAActive; on Richmond Flying Squirrels roster since 2026-09-01
ERA 6.00 · WHIP 1.33 · 18 K · 7 BB · 0 HR · K% .346 · BB% .135AA Richmond Flying Squirrels, 4.0 IP; A+ Eugene Emeralds, 8.0 IP
12.0 IP, 52 BF, 11 G
Sep 22, 2026
Ramon Marquez ILInjured 7-Day; on Eugene Emeralds roster since 2026-08-03
ERA 5.40 · WHIP 1.00 · 12 K · 1 BB · 1 HR · K% .308 · BB% .026
10.0 IP, 39 BF, 2 G
Sep 22, 2026
Tyler Mahle to the Braves
Aug 2, 2026Overdue
San Francisco Giants traded RHP Tyler Mahle to Atlanta Braves for RHP Anthony Molina.
Atlanta assumed the roughly $2.1 million left on Mahle's $7 million 2026 salary. The $3 million signing bonus stayed with the Giants and is payable January 15, 2027; it had not been paid at the time of the trade. Innings incentives split between the clubs by workload. MLB Trade Rumors (Anthony Franco), Giants Trade Tyler Mahle To Braves, 2026-08-02; bonus payment date per the Associated Press contract details, 2026-01-09 (signing bonus $3 million, payable Jan. 15, 2027). Corrects the earlier field, which took 'already paid' from this site's 2026-08-05 deadline report; that piece carries an appended correction dated 2026-09-22., Aug 2, 2026
Came in as a free agent this winter: Tyler Mahle (signed Jan 5, 2026). The signing's row closes at this trade and its grade lives on the Free Agent Regrade page.
Sent
Tyler MahleRHP, to ATL
Received
Anthony MolinaRHP, from ATL, AAA at the trade
ProcessB-as of Aug 2, 2026Revised Sep 22, 2026: C+ to B-
Result nowB-no regrade yet
OverdueSep 27season's end passed with no regrade
A+ABCDF
B-
Aug 2, 2026Sep 27, 2026season's end
The process grade, and why
Revised Sep 22, 2026: C+ to B-. Re-read against the same August 2 to 4 sources. The C+ charged two costs at a step and a half: a 40-man spot spent on Molina rather than on a low-minors arm that would have cost none, and a sale a day before the deadline. A low-minors arm worth keeping costs the same 40-man spot at the November protection deadline, and the club opened six spots in the two deadline days and recalled four pitchers into them, so the spot was not scarce. Nothing dated August 2 to 4 shows Monday's market paying more than Sunday's for a 5.13 ERA rental; the return matched the tier the market was expected to pay for him going into the weekend. The cost that stands is the one the piece names correctly, a 6.89 ERA in 55 major league appearances and no place among the 86 prospects McDaniel ranked, and that is one step below B on a trade that was right to make at the market's price, not a step and a half. Andie Townsend
The right sale for a 47-65 club, at the floor of the market.
The need: selling a rental with a 5.13 ERA over 94 2/3 innings was right, salary and all.
The price: Atlanta arrived with a rotation crisis reported the same day, and San Francisco sold a day early.
The return: Molina, a 6.89 ERA in 55 major league appearances, costs a roster spot a lottery arm would not.
From 3 reports dated on or before Aug 3, 2026. Andie Townsend, written Sep 22, 2026. The piece.
The 3 sources
MLB Trade Rumors (Anthony Franco): Giants Trade Tyler Mahle To Braves; salary, signing bonus, Molina's options and service (Aug 2, 2026)
NBC Sports Bay Area (Taylor Wirth): Giants trade Tyler Mahle to Braves for Anthony Molina; Mahle's June and July ERAs, Molina's career line (Aug 2, 2026)
MLB Stats API: transactions for teamId 137 and each traded player; player lines by date range through 2026-08-03 at every level; game logs; schedule feed (Aug 3, 2026)
Every grade
C+Process, as of Aug 2, 2026, written Sep 22, 2026, Andie Townsend (the original, since revised)
·Rewritten Sep 24, 2026 for length. Grade and facts unchanged.
B-Process revised Sep 22, 2026, from C+, Andie Townsend: Re-read against the same August 2 to 4 sources. The C+ charged two costs at a step and a half: a 40-man spot spent on Molina rather than on a low-minors arm that would have cost none, and a sale a day before the deadline. A low-minors arm worth keeping costs the same 40-man spot at the November protection deadline, and the club opened six spots in the two deadline days and recalled four pitchers into them, so the spot was not scarce. Nothing dated August 2 to 4 shows Monday's market paying more than Sunday's for a 5.13 ERA rental; the return matched the tier the market was expected to pay for him going into the weekend. The cost that stands is the one the piece names correctly, a 6.89 ERA in 55 major league appearances and no place among the 86 prospects McDaniel ranked, and that is one step below B on a trade that was right to make at the market's price, not a step and a half.
The calendar for this trade
Season's end, Sep 27, 2026
Opening day, Mar 25, 2027
The deadline, Jul 31, 2027 (date provisional)
Season's end, Sep 26, 2027
Season's end, Sep 24, 2028 (date provisional)
Season's end, Sep 30, 2029 (date provisional)
Season's end, Sep 29, 2030 (date provisional)
Final at Aug 2, 2031 or earlier
The lines
Each player's line since the trade, with its denominator and the date it was pulled.
Player
Since the trade
n
As of
Tyler Mahle MLBActive; on Atlanta Braves roster since 2026-08-02
ERA 1.28 · WHIP 0.89 · 44 K · 7 BB · 4 HR · K% .234 · BB% .037
49.1 IP, 188 BF, 8 G
Sep 22, 2026
Anthony Molina MLBActive; on San Francisco Giants roster since 2026-08-02
ERA 3.44 · WHIP 1.00 · 35 K · 7 BB · 3 HR · K% .254 · BB% .051MLB San Francisco Giants, 23.0 IP; AAA Gwinnett Stripers, 2.0 IP; AAA Sacramento River Cats, 9.0 IP
34.0 IP, 138 BF, 9 G
Sep 22, 2026
How this is graded
Two grades. The process grade is set once, as of the day of the trade, from what was knowable that day: was this the right trade, at the right price, at the right time? It never changes. The result grade is what the chart tracks after that, and it is regraded on a fixed calendar until the trade is finished. The dotted line on every chart is the process grade; the gap between the line and the last point is the story.
What the result grade weighs, in order. What the players sent have done for the other club. What the players received have done here. Where each of them is now: majors, minors, released or traded on. Contract control remaining on both sides. A regrade may move more than one step, and its argument has to say why. A prospect who will not surface for years keeps the row open; the trade still gets a grade and the argument says who is still unknowable.
The calendar. Season's end, then the next opening day, then the next trade deadline, then every season's end after that; final at five years from the trade or when nobody in the deal is with either club, whichever comes first. A checkpoint that passes with no regrade shows as overdue on this page rather than waiting quietly.
The source-date rule. A process grade may cite nothing dated later than the day after the trade. The build refuses a grade that breaks it. The 2026 Giants deadline class was first graded in September 2026, not on the day. Each process grade is written as of the trade date from sources dated Aug 2 to Aug 4, 2026 only, and the date it was written prints beside it.
Every number is pulled, not typed. Each player's line since the trade is written into the ledger from the league's own feeds, with its n and the date it was pulled, and a regrade cannot publish on a number that is not in the file. The grade itself is a signed judgment under a byline, not a formula.