The AFL trade floodgates have opened for Jake Lever and Devon Smith but Western Bulldogs forward Jake Stringer remains in limbo.

What loomed as potentially the most acrimonious negotiation of the trade period was resolved amicably on Thursday when Melbourne secured defender Lever by sending two first-round draft picks to Adelaide.

Essendon later agreed to part ways with their No.11 pick and a future third-round selection in exchange for Greater Western Sydney forward Smith.

The Bombers received pick No.24 and a future second-round pick — selections that could prove vital in helping them to prise Stringer from Whitten Oval.

Stringer appears to be on borrowed time at the Bulldogs after coach Luke Beveridge signalled the club’s desire to trade him.

But the All-Australian is contracted next year and the Dogs have signalled they won’t let him go unless they receive suitable compensation.

“Pick 11 is now gone. It’ll have to be a combination of other things,” Essendon list manager Adrian Dodoro said.

“We have given a strong indication to Jake that we will do our best to get the deal done.

“There is a fair way to go and we hope we can land him.”

Adelaide’s compensation for 21-year-old Lever could put them in a strong position to make another play for Carlton’s Bryce Gibbs.

The Crows were given Melbourne’s No.10 draft pick and a selection in each of the first and fourth rounds in 2018 in exchange for Lever.

In addtion to Lever, the Demons receive the No.35 draft pick and a future third-round selection.

Adelaide now have four first-round selections across the next two drafts.

A fifth could potentially be extracted from Brisbane in exchange for wantaway forward Charlie Cameron, who remains under contract.

That would leave Adelaide well-placed to tempt the Blues into dealing star midfielder Gibbs back to his native South Australia.

The future of Melbourne forward Jack Watts remains uncertain with his suitors apparently unwilling to part with the asking price of an early second-round pick.

Demons football boss Josh Mahoney said it was still tenable for Watts to stay put despite being encouraged to find a new home.

“We’ve seen it happen a lot of times before,” he told reporters.

“We’re very clear on what we want from the clubs.

“If it works for Jack and it works for us we’ll look to do something but if it doesn’t, we’re happy to have him back at Melbourne.”