Smith injured his ankle in last week's preseason opener against the Detroit Lions. He tried to play through the injury all week, but it clearly hurt his play--Rex Ryan admitted that his practices were "brutal." Smith completed 6 of 7 passes for 47 yards before his injury.
Fantasy impact: It's starting to sound like Sanchez will be the Week 1 starter, though the Jets did Smith no favors by letting him try to play on a bad ankle.
If you watched Sanchez last year, you should already know he's not a realistic fantasy option, but it doesn't look like Smith is ready to push him yet. The second-round rookie isn't worth much more than a roster stash in Dynasty leagues and should probably go undrafted in single-season leagues.