Derrick Henry is favored to win NFL Comeback Player of the Year after missing much of last season before returning for the Titans only playoff game. But that begs the question -- has he already returned, and can he still win? 

That's what makes Comeback Player of the Year so interesting. There aren't clear guardrails to define who is eligible and who can win. It doesn't go to the best statistical season, like MVP or Rookie of the Year. In fact, many sportsbooks don't list all the same players.

The official definition: CPOY is given to the player "who shows perseverance in overcoming adversity, in the form of not being in the NFL the previous year, overcoming a severe injury, or simply a poor performance."

CPOY generally goes to injured quarterbacks who return to form. But this year, there aren't many injured QBs returning -- Saints QB Jameis Winston is really the only one, and Giants QB Daniel Jones, who missed the last six games. That makes the field feel wide open.

Here are some players who have taken action so far this offseason:

• Panthers RB Christian McCaffrey has dropped from +1600 to +700 at FanDuel after missing most of the last two seasons. Just one running back has won since 1998.
• Panthers QB Baker Mayfield dropped a bit following his trade to Carolina. In the last two decades, five quarterbacks who were not injured but rebounded from poor performance have won. Mayfield will have the narrative in his favor after the Browns ran him out of town by trading for Deshaun Watson, who is also a favorite for this award (but probably shouldn't be).
• Winston's moved from +700 to +500 at FanDuel.
• Watson has ping-ponged around a bit as rumors swirl about the length of his suspension. He was the second betting choice earlier in the offseason at DraftKings, and is now seventh at +1200. He's not listed at FanDuel.

Odds via DraftKings and updated in real-time.

1. Derrick Henry +400

• RB, Titans
• Reason: Injury

Henry is favored to win, despite coming back in the playoffs last season. He's due for a monster statistical season like usual, but will the narrative be in his favor since he already came back and proved he could play?

2. Jameis Winston

• QB, Saints
• Reason: Injury

This award often goes to injured quarterbacks who return to form, and Winston is the only one who fits that bill this year. The Saints offense was terrible without him last year, and they've got a new coach. He's got the narrative in his favor. 

3. Christian McCaffrey +750

• RB, Panthers
• Reason: Injury

McCaffrey also has some narrative in his favor after missing most of the last two seasons with a variety of injuries. But just one running back has won this award since 1998.

4. Daniel Jones +800

• QB, Giants
• Reason: Injury/Performance

Jones has one last chance with a new coaching stuff and oddsmakers are counting on voters buying into that narrative if his performance improves. He did miss the last six games of the regular season in 2021, but I'm not sure most voters will remember that because his injury wasn't clearly season-ending. He was questionable for three weeks, then inactive for the last three.

5. Mitchell Trubisky +1000

• QB, Steelers
• Reason: Performance

Trubisky has plenty of narrative on his side -- the Bears were a disaster, gave up on him, and he now lands in a spot where he has to replace a franchise legend in Ben Roethlisberger.