Knicks guard Jose Alvarado has agreed to push back his option decision date from June 22 to June 26, sources tell Jake Fischer of The Stein Line (Twitter link).

Alvarado holds a $4.5MM option on his contract for next season. All player option decisions are due by June 29, though some contracts call for an earlier deadline.

According to Fischer, the Knicks are active in trade discussions leading up to this week’s draft, particularly regarding the 24th and 31st overall picks. New York also controls the 55th pick in 2026.

Alvarado went undrafted in 2021 after starring in college at Georgia Tech. He originally signed a two-way contract with New Orleans, but was promoted to a standard deal at the end of his rookie season.

After spending his first four-plus years with the Pelicans, Alvarado was traded to the Knicks ahead of the February deadline. The Brooklyn native averaged 7.4 points, 3.4 assists, 2.5 rebounds and 1.0 steal on .416/.352/.761 shooting in 69 regular season games with the Pelicans and Knicks (19.9 minutes per contest).

The 28-year-old’s role was reduced in the playoffs (9.4 MPG), but he had some key moments in the NBA Finals, memorably going 3-for-3 from the field en route to eight fourth-quarter points as New York erased a 29-point deficit to win Game 4.

Alvarado will be an unrestricted free agent if he declines his player option.

In case you missed it, we previewed the Knicks’ offseason on Monday morning.