You may remember the $14.5 million traded player exception that the Cavaliers got in the sign and trade deal that sent LeBron James to the Miami Heat. It was slated to expire on July 8th, 2011, or one year after the deal took place. However, because of the NBA lockout, the Cavs now have until December 16th, 2011 to use the TPE, according to ESPN analyst, Larry Coon on Twitter.

@LarryCoon: Here's something important for Cleveland & others: Trade exceptions that expired during lockout now expiring Dec 16.

This does not necessarily mean that the Cavaliers will use the TPE before that date, but it creates some options. Chris Grant now has some more flexibility and if he were able to find the right deal, might be able to acquire more draft picks or young assets. I know that this has been a frequently asked question ever since the lockout started and ended, so there you go. The Cavs have six more days to use the TPE. Whether or not they choose to use it remains to be seen.