Looking at teams that might be interested in trading for Holl because they, at this time, seem to be out of the playoff mix, I was surprised how few defensemen are out there that I'd be interested in acquiring. Whether it's a contract issue (we can't afford, retention boosts the cost, etc.), the minutes that player would be required to play/game, age...
Ottawa, Chicago and Vancouver don't have a right handed defensemen I'd be looking at.
Buffalo and Seattle have Miller and Oleksiak respectively, but Holl alone wouldn't cover their cost, retention necessary, how much would you pay?
Philly, Braun maybe, he'd save you 200K on an expiring deal.
Arizona has Lyubushkin which would save you around 600K, but he's a UFA at the end of this season, and is playing only 18:07 minutes per night. Can he handle the extra 3 min Holl plays?
Montreal...Chariot I can't see us dealing for and he's left handed, is a UFA after the season, and isn't having a great year.
Isles have Mayfield, who in my view is the best of the bunch with a 550K saving v Holl, plays 20 min/night, is right handed and is signed for this year and next. But what would NYI ask for in return? It would certainly be more than Holl 1 for 1.
Sometimes, the best course of action is to do nothing. I suggest the Leafs wait this out a bit, they have time, aren't playing horridly, and Holl (Muzz too) may rebound. Another option is to find out what Liljegren can accomplish beside Muzzin and drop Holl into a competition with Dermott to play with Sandin. The TDL is in March, post Olympics. A lot can change by then.