8:32pm: The Magic continue to explore their options with the No. 2 pick, tweets HoopsWorld's Alex Kennedy.
8:04pm: The Magic have no trades in the works and expect to use the No. 2 overall pick for themselves Thursday, sources tell Marc J. Spears of Yahoo! Sports (Twitter link). Josh Robbins of the Orlando Sentinel tweeted earlier this evening that though little is certain surrounding the team, it will not trade up to get the No. 1 pick.
3:10pm: Few, if any, trade rumors have surfaced more frequently over the last several days than one connecting Eric Bledsoe to the Magic and Arron Afflalo to the Clippers. However, according to Magic GM Rob Hennigan, he'd be "stunned" if his team made a deal with L.A. on or before draft night, since he hasn't talked trade with the Clips in about three weeks (Twitter links via Josh Robbins of the Orlando Sentinel).
Although Hennigan downplayed the possibility of a trade with the Clippers, that doesn't mean the Magic won't be active this week. According to the GM, there are some tempting offers on the table for his team, with the Orlando front office seriously considering "three or four" different possibilities (Twitter links via John Denton of Magic.com).
Hennigan didn't go into specifics about the proposals on the table for the Magic, but it's a good bet that most or all of them include the No. 2 overall pick — reports earlier today indicated that the Magic were weighing the possibility of trading down in the draft. The Timberwolves are among the teams believed to be interested in trading up, reportedly dangling the ninth and 26th overall picks along with Derrick Williams.
In other roster-building news for the Magic, Hennigan suggested that Orlando is unlikely to use its mid-level exception in free agency this summer, according to Robbins (via Twitter).