November 18th is the day 40 man rosters are set. It is the last day you can protect players from the Rule 5 Draft, which occurs on the last day of the Winter Meetings.

As always, a little explanation on how these decisions are made. The players you are likely to see protected are some combination of...

A) A moderate to high ceiling player. Preference will be given to players with starting grades or above -- or perhaps a pitcher who is ready to help out of the MLB bullpen. Jose Rosario is a good example here. He may not be a starter, but he has upside as a high leverage reliever and the Cubs have already rostered him. Of course, the quality of player can vary depending on an organization's depth and talent. The Cubs are among the most talented and deep organization's in baseball, so they may lose a pretty good player or two.

B) Having close proximity to the big leagues. Rule 5 draftees have to stay on the selecting team's 25 man roster for the entire season. For one, most teams aren't going to want to stash a raw prospect who is still in low A ball and is 3 years away from the big leagues. Secondly, you don't want to protect a player that is too far away because putting them on the 40 man roster starts their option clock. You don't want to have to rush that player to the big leagues before he runs out of options, so you'll take the risk another team won't grab him and stash him on the bench for a year. One player the Cubs may not be able to protect is LHP Jose Paulino, who just made it to low A ball after some struggles early in his career. He broke through last year and has vaulted himself into Top 30 prospect consideration -- and has some ceiling with a good FB, SL, CH combo -- but he just may not be the kind of player the Cubs can protect given their talent level and how far away Paulino is from the big leagues.

As always, AZ Phil has the definitive list, so we'll go with that. Remember that not all players need to be protected. The rule is that to be eligible for the Rule 5 Draft the player must not be on the 40 man roster and a) were 18 or younger on the June 5 preceding their signing and this is the fifth Rule 5 draft upcoming, or b) were 19 or older on the June 5 preceding their signing and this is fourth Rule 5 draft upcoming.

So you don't have to worry about Eloy Jimenez, Ian Happ, Dylan Cease, Oscar De La Cruz, or Trevor Clifton -- all among the Cubs top half-dozen prospects along with Jeimer Candelario, who is already protected. The Cubs are in a good spot in that almost all of their best prospects are either already rostered or not yet eligible.

The following list from AZ Phil are those players that will be eligible for the Rule 5 Draft if the Cubs choose not to put them on the 40 man roster...

CUBS MINOR LEAGUERS ELIGIBLE FOR SELECTION IN DECEMBER 2016 RULE 5 DRAFT (last updated 11-15-2016):

Andury Acevedo, RHP (Article XX-D player - can elect free-agency if drafted & then later re-claimed by Cubs)

Gioskar Amaya, C-IF-OF

John Andreoli, OF

Jeffry Antigua, LHP

Luis Aquino, RHP

Pedro Araujo, RHP

Jeffrey Baez, OF

Yasiel Balaguert, 1B-OF

Dallas Beeler, RHP (Article XX-D player - can elect free-agency if drafted & then later re-claimed by Cubs)

Corey Black, RHP

David Bote, INF

Cael Brockmeyer, C

Stephen Bruno, INF

Victor Caratini, C

Roberto Caro, OF

Erick Castillo, C

Josh Conway, RHP

Taylor Davis, C-1B

Andin Diaz, LHP

Elvis Diaz, RHP

Greyfer Eregua, RHP

Luiz Escanio, RHP

Bryant Flete, INF

Seth Frankoff, RHP (ex-LAD - signed 2017 minor league contract prior to Rule 5 Draft)

Robert Garcia, OF

David Garner, RHP

Jake Hannemann, OF

Luis Hernandez, RHP

Erick Leal, RHP

Jack Leathersich, LHP

Danny Lockhart, INF

Mark Malave, RHP (ex-C)

Dillon Maples, RHP

Trey Martin, OF

Jonathan Martinez, RHP

Ryan McNeil, RHP

Alberto Mineo, C

Jose Paniagua, 1B-OF

Juan Carlos Paniagua, RHP

Manny Parra, LHP (Article XIX-A player - can elect free-agency if drafted & then later re-claimed by Cubs)

Adonis Paula, INF

Jose Paulino, LHP

Carlos Penalver, INF

Steve Perakslis, RHP

Chris Pieters, 1B-OF (ex-LHP)

Jordan Pries, RHP

James Pugliese, RHP

Bijan Rademacher, OF

Will Remillard, C

Armando Rivero, RHP

Alexander Santana, RHP

Nick Sarianides, RHP

Tyler Skulina, RHP

Daury Torrez, RHP

Duane Underwood Jr, RHP

Michael Wagner, RHP

The Cubs currently have 34 men on their 40 man roster when we exclude free agents. The Cubs are not expected to re-sign any of them before the 18th (and probably not at all), so they do have some room to work with. They may want to leave some room for acquisitions in case a trade comes up or a player becomes available.

I also don't expect a World Series champion to carry a Rule 5 player on their roster, so we can probably rule out the Cubs saving a space for their own selection.

But who gets protected? Here is the breakdown...

The Locks

Duane Underwood, RHP, AA: Once a top 5 prospect, injuries slowed him down during the regular season and the Cubs played it safe during the Arizona Fall League by shutting him down early. He's still a top 10 type prospect and when healthy, he has a mid 90s FB that I have seen hit the high 90s at times. He also flashes a plus curve and an above average change-up. What he struggles with is his command. Though he has average to better control when right, he tends to leave the ball up and when he does, he can get hit hard. I think he's a better fit in the bullpen where he can rear back and let it fly. I believe he can work more in the upper 90s in that role. Undoubtedly another MLB team would feel the same way and give him a shot at a bullpen spot if he is exposed. He won't be.

Once a top 5 prospect, injuries slowed him down during the regular season and the Cubs played it safe during the Arizona Fall League by shutting him down early. He's still a top 10 type prospect and when healthy, he has a mid 90s FB that I have seen hit the high 90s at times. He also flashes a plus curve and an above average change-up. What he struggles with is his command. Though he has average to better control when right, he tends to leave the ball up and when he does, he can get hit hard. I think he's a better fit in the bullpen where he can rear back and let it fly. I believe he can work more in the upper 90s in that role. Undoubtedly another MLB team would feel the same way and give him a shot at a bullpen spot if he is exposed. He won't be. Victor Caratini, C, AA: Caratini is a switch-hitting catcher with a line drive swing made for frequent solid contact. The swing lacks lift and he won't hit for much power, but he'll hit doubles along with hitting for a solid average. He also has the discipline to take walks and supplement his OBP. Defensively he is an average receiver with an average arm, though he did struggle with throwing out baserunners this past season. Catchers are a rare commodity and it's reasonable to think Caratini could fill in as a backup on a team thin in catching right now.

On the bubble:

I think Bijan Rademacher would do just fine if a team selected him and used him as a 4th or 5th OFer. He has a solid LH bat, good OBP skills, and is solid in the OF, where his arm is his biggest asset. But the question is where he would fit with the Cubs where they have lefties Schwarber and Heyward starting with switch-hitter Zobrist serving as a 4th OFer in addition to being the team's regular second baseman. The Cubs, however, may protect him for depth and because he is a quality player with a reasonably good chance of making it to the big leagues soon. They may leave him unprotected because they may not want to make room for a player that is not a perfect fit as a LH hitting extra outfielder.

would do just fine if a team selected him and used him as a 4th or 5th OFer. He has a solid LH bat, good OBP skills, and is solid in the OF, where his arm is his biggest asset. But the question is where he would fit with the Cubs where they have lefties Schwarber and Heyward starting with switch-hitter Zobrist serving as a 4th OFer in addition to being the team's regular second baseman. The Cubs, however, may protect him for depth and because he is a quality player with a reasonably good chance of making it to the big leagues soon. They may leave him unprotected because they may not want to make room for a player that is not a perfect fit as a LH hitting extra outfielder. RP Armando Rivero has a good fastball and shows a much improved slider -- but he has struggled with FB command and doesn't get himself in position to put hitters away as often as you would like. The walk rate is a concern as well for a team that emphasizes controlling the strike zone. Still, the stuff is intriguing and would play on any MLB staff if he can learn to command consistently.

has a good fastball and shows a much improved slider -- but he has struggled with FB command and doesn't get himself in position to put hitters away as often as you would like. The walk rate is a concern as well for a team that emphasizes controlling the strike zone. Still, the stuff is intriguing and would play on any MLB staff if he can learn to command consistently. We mentioned LHP Jose Paulino earlier. The 21 year old has good stuff and solid control, but is still learning to pitch and may be three years from the majors. Tough for a team like the Cubs to carry him on their 40 man roster but he may have more upside than anyone else on this bubble list. It's rare to see a low Class A prospect protected unless he is a top prospect, but with lots of room right now, the Cubs could make an exception.

earlier. The 21 year old has good stuff and solid control, but is still learning to pitch and may be three years from the majors. Tough for a team like the Cubs to carry him on their 40 man roster but he may have more upside than anyone else on this bubble list. It's rare to see a low Class A prospect protected unless he is a top prospect, but with lots of room right now, the Cubs could make an exception. 27 year old RP Nick Sarianides is not a household name even among Cubs fans, but he has put up big K numbers since the Diamondbacks signed him from the independent leagues prior to the 2014 season. He's probably close to ready to help an MLB team and has solid stuff with a low 90s FB and an exceptionally good change that has a quick, sudden drop. The change-up is interesting because it potentially gives him a weapon against LH hitters, something that might entice Maddon as he has said he likes to utilize pitchers who are effective against offhand hitters. Sarianides has a chance to be that kind of pitcher. The Cubs thought enough of him to bring him back after a solid season at AA, so they may want to make sure they don't lose him in the Rule 5 Draft.

is not a household name even among Cubs fans, but he has put up big K numbers since the Diamondbacks signed him from the independent leagues prior to the 2014 season. He's probably close to ready to help an MLB team and has solid stuff with a low 90s FB and an exceptionally good change that has a quick, sudden drop. The change-up is interesting because it potentially gives him a weapon against LH hitters, something that might entice Maddon as he has said he likes to utilize pitchers who are effective against offhand hitters. Sarianides has a chance to be that kind of pitcher. The Cubs thought enough of him to bring him back after a solid season at AA, so they may want to make sure they don't lose him in the Rule 5 Draft. The LH verrsion here is Jack Leathersich, whom the Cubs liked enough to give some consideration for a September call-up. He is deceptively quick with his FB and can miss bats with his CB. Never hurts to be lefty and never hurts to have enough bullpen depth. Like Sarianides, he has put up big K numbers in the minors, though he tends to be more wild. After Underwood and Caratini, he's probably the next most likely player to be protected.

whom the Cubs liked enough to give some consideration for a September call-up. He is deceptively quick with his FB and can miss bats with his CB. Never hurts to be lefty and never hurts to have enough bullpen depth. Like Sarianides, he has put up big K numbers in the minors, though he tends to be more wild. After Underwood and Caratini, he's probably the next most likely player to be protected. Ryan McNeil broke through a little bit as Myrtle Beach's closer after an injury-riddled start to his career. He's strictly a power RP, showing a mid 90s FB and mid 80s SL this spring, but that velocity is a bit down this fall, where he has been mostly 91-93 with his FB, though that could just be some fatigue setting in. He's been hit hard at times and honestly, I don't think he'll get protection considering he hasn't stood out and has not pitched above the A level. It'd be a big leap to make an MLB roster from where he is now.

broke through a little bit as Myrtle Beach's closer after an injury-riddled start to his career. He's strictly a power RP, showing a mid 90s FB and mid 80s SL this spring, but that velocity is a bit down this fall, where he has been mostly 91-93 with his FB, though that could just be some fatigue setting in. He's been hit hard at times and honestly, I don't think he'll get protection considering he hasn't stood out and has not pitched above the A level. It'd be a big leap to make an MLB roster from where he is now. OF Jacob Hannemann runs like a gazelle and has more raw power than you might think, but his bat just isn't advanced enough to hit MLB pitching. He could certainly pinch-run and serve as a defensive replacement. Hannemann is one of those guys who always seems to get scouts attention because of his graceful athleticism, so he's definitely familiar to many teams. We know Maddon is always looking to add speed so while it's a long shot, he is certainly someone the Cubs would like to keep around.

runs like a gazelle and has more raw power than you might think, but his bat just isn't advanced enough to hit MLB pitching. He could certainly pinch-run and serve as a defensive replacement. Hannemann is one of those guys who always seems to get scouts attention because of his graceful athleticism, so he's definitely familiar to many teams. We know Maddon is always looking to add speed so while it's a long shot, he is certainly someone the Cubs would like to keep around. OFer John Andreoli has long been a fan favorite of those who follow the Cubs minor leagues. He isn't really considered a top 30 type prospect, but increased power to go with good speed and OBP skills might get additional attention this year. He is strictly an extra OFer and duplicates Matt Szczur in many ways, so he doesn't seem to be a fit -- though you could argue that adding him would give the Cubs something Szcur doesn't -- an extra outfielder with options.

Other players who could receive consideration: The Cubs have a lot of good RH arms including Jose Paniagua , Corey Black, Dillon Maples, Pedro Araujo, Andury Acevedo, Seth Frankoff, David Garner, Josh Conway, Luis Leal, Steve Perakslis, and Daury Torrez. 1B-OF Chris Pieters is the most interesting of the other position players but he is much too far away to be protected. Yasiel Balaguert shows a powerful bat, but no team -- especially one as deep/talented as the Cubs -- is going to protect a Class A 1B who is still raw as a hitter.

The Cubs might have a couple of open slots they can use other than those for Underwood and Caratini, but it's hard to see them protecting anyone who can't help them soon, perhaps even this year. Leathersich is a candidate based on that criteria and with the Cubs likely losing Aroldis Chapman and Travis Wood to free agency and Mike Montgomery to the starting rotation, Leathersich is a guy who can compete with Rob Zastryzny, Gerardo Concepcion, and Zac Rosscup for one of the lefty spots in the bullpen. Given that inexperience from the left side, it stands to reason the Cubs would like to add a veteran from outside the organization or perhaps even re-sign Travis Wood, though that seems unlikely given he is expected to get a nice raise and a possible shot at a rotation slot on the open market,

Depending on how the Cubs plan to utilize Almora and/or Soler, the Cubs may be looking for OF help. With two LH starters -- including one that may need a late inning defensive replacement and another who struggled against LHPs, they may want a RH backup. That may help Andreoli finally break through, though the Cubs may prefer a veteran should such a role be needed, If the Cubs want to stock up on arms, then Sarianides, Rivero, or any of the many RH options we've listed could add depth. I would lean toward the Cubs adding pitching depth before adding a position player to the roster.

It will be interesting as this Cubs team has already added many of it's eligible top prospects to the 40 man roster, but they have some room and perhaps we'll see them add a surprise or two.