The good news is that he's doing some running on the side at practice, so he might not be done for the season. The Raiders have seen him get hurt far too often to bring him back at less than 100 percent, so Week 12 would serve as an extremely optimistic target date.
In McFadden's absence, Rashad Jennings has filled in admirably. Last week, the former Jaguar had 88 yards on 20 carries to go with two catches for 19 yards against the New York Giants. He was coming off an outstanding game prior to that with 176 yards from scrimmage against the Philadelphia Eagles.
Fantasy impact: If fantasy owners can't keep McFadden on the bench and need to pick up someone to start, then it's possible they'll entertain the idea of cutting him. Meanwhile, Jennings has another big-time shot as the featured back against a struggling Texans team. Start him as an RB2.