Re: Texans' Cap space......and the rest of the League
The Texans have until May 3rd to activate the 5th year option on Watt. The pay will be result of #3-#24 salaries at that position. Pretty good number if I recall.
The Texans could negotiate an extension this offseason to his rookie contract and lock him up for the foreseeable future. The Texans could activate the 5th year option. The Texans could do nothing and let him hit free agency next offseason with a massive bidding war that the Texans would lose.
Option #1 would be best.
As for OD & Graham. You let Graham walk. Graham is probably the #3 TE free agent, and the top two (J. Graham and D. Pitta) are likely to both get franchised. Making G. Graham one of the higher rated TE free agents...so he will get a good payday elsewhere. You stick with OD & Griffin. OD's contract is finished after the 2014 season. Draft another TE in this draft. Run with Griffin and 2014 rookie and TBA player for 2015.