The Patriots face a regime-defining decision Thursday night during the 2024 NFL Draft.

Set to pick third overall, Patriots director of scouting Eliot Wolf made it clear during his pre-draft press conference that the team is keeping its options open when they’re on the clock.

During that 15-minute session, Wolf acknowledged the possibility of taking a quarterback, trading back, trading up and even staying put and not taking a QB.

So, let’s dive into all of the possibilities the Patriots face at No. 3 overall and rank them based on their likelihood.

The most logical move for the Patriots. Even though we’re at the point in the pre-draft process when every quarterback has been overanalyzed and nitpicked to death, there are at least three quarterbacks widely regarded as worthy of a top-three pick in USC’s Caleb Williams, LSU’s Jayden Daniels and UNC’s Drake Maye, and Michigan’s J.J. McCarthy has a lot of fans around the NFL, as well.

Quarterback is clearly the Patriots’ top need heading into the draft because of the importance of the position. If the Patriots hit on a quarterback, whether that’s Daniels, Maye or McCarthy (Williams is almost certainly being drafted first overall by the Bears), then Wolf and new head coach Jerod Mayo will have jobs in New England for a long time.

Patriots owner Robert Kraft said last month at the NFL Annual Meeting that he’d like his team to wind up with a “top-rated, young quarterback” in the draft. He also said he’d evaluate Wolf’s role as the head of player personnel after the draft. Wolf and his staff can’t screw up this draft.

And sure, as Bill Belichick recently said on “The Pat McAfee Show,” a first-round quarterback is only a 50/50 proposition. So, the QB the Patriots take might not wind up being the future of the franchise. But they’re in a much better position to land what they need in a franchise quarterback knowing they’re picking third in what’s regarded as a strong class for quarterbacks than they might be in the future when they could be picking anywhere with a weak crop of passers.

But other options must be considered since Wolf isn’t coming out and saying a quarterback will be the pick.

Callahan: Eliot Wolf keeps Patriots’ options open despite obvious draft destiny

This one is a risk. Yes, the Patriots could trade down from No. 3 overall and still wind up with one of the top four quarterbacks, but it's no guarantee, especially if a deal is consummated with the team best positioned to trade up, the Vikings, who hold the 11th and 23rd overall picks in the draft.

And we're not discounting the possibility that a trade-down could involve a player. For the Vikings, the best options would be wide receiver Justin Jefferson and offensive tackle Christian Darrisaw, both of whom would fill major needs on the Patriots roster.

It seems unlikely that the fourth quarterback — likely McCarthy — would be there at No. 11 overall. But the Patriots could swing a second deal to move back up. The Cardinals, at No. 4 overall, and the Chargers, picking fifth, both seem like prime candidates to move back.

So, let's say the Vikings trade Nos. 11, 23 and a future first to the Patriots. Then the Patriots package either Nos. 11 and 23 or No. 11 and a future first to move back up to Nos. 4 or 5. Is that worth it to take the fourth-best quarterback? It would likely require a conversation with the Vikings about which quarterback they want. Because if the Patriots value that player significantly higher than the fourth quarterback, then it's not worth it. But if it's close, or if the Patriots actually like the fourth quarterback more, then it's a no-brainer, as complicated as it might be.

The Giants are another team that could be interested in trading up from No. 6 overall.

Will Patriots take QB or trade down and other takeaways from pre-2024 NFL Draft presser

This option is much less complicated but would likely require the Patriots to have to settle for a quarterback like Oregon's Bo Nix or Washington's Michael Penix Jr. later in the first round or early in the second round.

The issue with trading with the Vikings is that there's no real guarantee that the Patriots would land one of the three top wide receivers or three top offensive tackles at No. 11 overall either. So, if Williams, Daniels, Maye, McCarthy, Ohio State wide receiver Marvin Harrison Jr., LSU wide receiver Malik Nabers, Washington wide receiver Rome Odunze, Notre Dame offensive tackle Joe Alt, Oregon State offensive tackle Taliese Fuaga and Washington offensive tackle Troy Fautanu are all gone, then what exactly do the Patriots do here?

Take the top defender? Draft tight end Brock Bowers? Neither option is ideal for a team in desperate need at QB, wide receiver and tackle.

This option is tricky since the Commanders, who hold the second overall pick, are also expected to take a quarterback. But if the Patriots and Commanders order their quarterbacks differently, of if the Patriots greatly prefer one player over the others, then they could potentially move up to No. 2 overall to draft their favorite out of Daniels, Maye and McCarthy.

Patriots 2024 NFL mock draft: Trading back to take two wide receivers

This option might send Patriots fans into an actual fervor. But in a normal draft without so many worthy quarterbacks, then Harrison, Nabers, Odunze or Alt would be fine picks at No. 3 overall. The Patriots arguably need help at wide receiver and offensive tackle even more than at quarterback in 2024.

But beyond 2024? The Patriots need to build around a quarterback. And if they're picking later in 2025 in a weak quarterback class, then they would be shut out at the position.