The Rockets have already struck once before the deadline, trading for Thomas Robinson, Francisco Garcia, and Tyler Honeycutt from the Sacramento Kings. With the Rockets staying under the salary cap in this deal, they can still immediately send any of their players out in a trade before the deadline passes.
Adrian Wojnarowski of Yahoo! Sports reported that the Hawks prefer to send Smith to the Western Conference, but the Rockets were reportedly unwilling to part with both Omer Asik and Chandler Parsons in a trade for Smith when they had discussions prior. With more assets on hand, the teams have entered talks once again.
The Rockets have leverage in discussions, as they will have cap space available in the Summer to outright sign Smith as a free agent. The Hawks continue to sift through their options with the trade deadline only hours away.