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Could the Patriots trade the No. 3 draft pick in Round 1?

FOXBOROUGH, Mass. -- Quick-hit thoughts and notes around the New England Patriots and NFL:

1. What's in the 'bag'? Patriots owner Robert Kraft recently referred to the No. 3 draft pick as an advantageous position because teams behind New England could be "really desperate" to move up, and thus top decision-maker Eliot Wolf will be open to listening to trade offers.

First-year coach Jerod Mayo put his spin on it, saying if someone offers "a bag," the Patriots would "definitely have to talk about it."

So what would have to be in the bag?