Welcome to the fourth installment of this year’s Trade Value series; you can find links to the previous three posts above. If you’re not familiar with this project, there’s an explanation of the process in the HM post, so that’s the best place to start.

As a reminder for those who don’t like clicking links, however, the five-year WAR projections are based on Dan Szymborski’s ZiPS forecasts, though the players aren’t ranked based on those projections; these figures are included merely as a piece of information to help round out the picture. The guaranteed-dollars line measures the amount of money the player is owed outside of team options or arbitration years; for most of these guys, team options are very likely to be exercised, and many of them will end up making more than the guaranteed-dollars number reports.

Now let’s turn our attention to today’s 10 players.

If Jon Gray pitched in any other stadium in baseball, he’d probably be considered one of the game’s best young hurlers by now. With premium velocity and a very good slider, he profiles as a guy who can miss bats and manage contact well enough, and if his command takes a step forward, there’s ace potential here.

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Ben Lindbergh and Jeff Sullivan banter about Aaron Judge’s Home Run Derby performance, a subtle change in the way Rob Manfred talked about the baseball at the All-Star Game, and the Angels’ stats with and without Mike Trout. Then they make it two consecutive episodes of talking to a Glenn by bringing on UC Irvine professor and baseball researcher Glenn Healey to discuss the mechanics and implications of his new method of comparing pitchers based on their stuff.

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Episode 755
Managing editor Dave Cameron has begun publishing his annual Trade Value series. This is the podcast episode about the Trade Value series.

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Don’t hesitate to direct pod-related correspondence to @cistulli on Twitter.

You can subscribe to the podcast via iTunes or other feeder things.

Audio after the jump. (Approximately 46 min play time.)

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The Blue Jays are not where they want to be in the standings. That much has to be acknowledged. While it’s long been understood that the American League East was again going to be a challenging division, the Jays have still been a disappointment, and it’s an open question whether the front office might elect to start selling in advance of this month’s trade deadline. The train has gone off the rails, and while the rails are just right there, within reach, it’s no simple matter for any train to reattach. You know how trains are.

And as long as we’re saying things up front, this is an article about Jays closer Roberto Osuna, and not even very long ago Osuna was in the news because he had to miss a few games, owing to rather severe anxiety. Anxiety is a sinister thing, and a personal thing, and it’s not a villain you conquer with a good night’s sleep. Possibly, it will march alongside Osuna for the rest of his life. Probably, it will linger for at least another few years. It’s just one of the things he’ll have to deal with, like someone else might deal with a wonky knee.

So it hasn’t been all rainbows for Osuna, nor has it been puppy dogs for the baseball team around him. But this much can be said: When Osuna has taken the mound in 2017, he’s been absolutely sensational. Osuna was already a perfectly fine closer. What he is now is something else, something very nearly perfect, at least by human standards. Osuna’s only 22, and he’s pitching at the top of his magnificent game.

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“[Jose Ramirez] is an All-Star baseman. If I were to have told you that four years ago, you’d have been scratching your head, ‘Wait. The guy who is playing second base and is known for his defense? He’s an All-Star third baseman?’”

Those words were spoken by Cleveland Indians team president Chris Antonetti, who went on to say that “development isn’t always a linear process; it’s difficult to predict where guys are going to end up.”

That’s certainly true for Ramirez, who will start at the hot corner for the American League in tonight’s midsummer classic. As Antonetti alluded to, the expectations for the Dominican native were quite different just a handful of years ago. The 2013 Baseball America Prospect Handbook opined that Ramirez has “little power and limited physical projection,” and that he “lacks a high ceiling.”

Feel free to put that scouting report in the shredder, because the 5-foot-9 Ramirez’s ceiling currently resembles that of the Sistine Chapel. The 24-year-old infielder heads into the break with a .332/.388/.601 slash line, and — drum roll, please — an eye-opening 17 home runs. Ramirez has, quite simply, developed into a star.

He isn’t exactly verbose when it comes to talking about his emergence as an offensive force. At least that was the case when I spoke to him — with the assistance of Indians translator extraordinaire Anna Bolton — prior to a recent game. But while Ramirez wasn’t particularly forthcoming, he did share a few a noteworthy nuggets.

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Every year, some combination of fans, players, and members of Major League Baseball come together to select All-Star teams to represent the leagues in an exhibition. Every year, that group mostly gets it right. And every year, either players miss the game due to injury or pitchers pull out after having started on Sunday, and we still end up with a game featuring baseball’s very best players.

This season, both sides are missing arguably their best player: Mike Trout is aiming to return from injury as the second half begins, while Clayton Kershaw is resting after having started a couple days ago against Kansas City. With each side suffering a fairly major blow, let’s see which team is the most talented.

One indicator of talent is the actual quality of play on the field in the first half. One way to measure that play is using WAR. The graph below shows all the position players in both leagues by WAR accumulated so far this season.

As you can see, the American League has the edge at the top, even without Mike Trout. Aaron Judge, Jose Altuve, and Mookie Betts lead the way, and the AL has five of the top seven slots, with only Paul Goldschmidt and Justin Turner from the NL in that mix. Neither Goldschmidt nor Turner are in the starting lineup, however. After the top seven, the National League has 13 of the next 17 spots and overall, which is enough to narrowly edge the AL in first-half WAR by a count of 53.6 to 52.8. A healthy Mike Trout would make things even closer to equal, but it’s already basically a wash.

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Are you nostalgic for 2015? There are a few reasons to be, not the least of which is Fetty Wap’s Billboard dominance. Or, you know, when home runs were more rare. Back when the ball’s seams were probably higher and balls didn’t travel as far. Back when hitting 20 homers by the half was tough to do, and there weren’t 24 players that had done so by the All-Star Game.

What if we could go back?

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This is Matt Swartz’ second piece as part of his July residency at FanGraphs. A former contributor to FanGraphs and the Hardball Times — and current contributor to MLB Trade Rumors — Swartz also works as consultant to a Major League team. You can find him on Twitter here. Read the work of all our residents here.

I first began estimating the average cost per WAR on the free-agent market after the 2009 season, but have not done so since my three–part series at the end of the 2013 season, leaving three extra seasons during which the market for free agents has evolved. In the first piece of my residency, I discussed the labor implications of using this framework. Many of my subsequent pieces in this series will look for which types of players are undervalued or overvalued by the free-agent market.

But first this piece will explain how I actually calculate average value — the reference point for whether players are undervalued or overvalued. It is also the appropriate reference point when considering the opportunity cost of any other number of baseball moves. For example, when a team is considering the value of acquiring a young player who will produce a large volume of team-controlled WAR, the reference point for valuing him is the cost of acquiring that amount of WAR on the free-agent market. This is an important concept for team construction.

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