As of today this is not a trade rumor at all. But we do know that the Oklahoma City Thunder are looking to trade Point Guard Earl Watson. Trade Talks between the Dallas Mavericks, Charlotte Bobcats, and Thunder were stalled today which shows two things. 1) that Earl Watson is definitely "on the market" and 2) that the Thunder are a little picky about what they get in return for Watson.
Details on the proposed trade between the three teams is here... http://sports.espn.go.com/nba/dailydime?page=dime-090113
The Lakers are in need of a point guard for two reasons! First the injury of backup PG Jordan Farmar which is putting too many miles on veteran Derek Fisher. And second the Lakers need to find a point guard who can defend the Pick n' Roll, the major defensive problem of the Lakers. It appears that Earl Watson would be the perfect fit for the Lakers needs.
Who would the Lakers have to offer? How about Small Forward Vladamir Radmanovic? The salaries between the two players are just about equal. And Radmanvoic fills a void on the Oklahama City Thunder with his spot up outside shooting, something they currently do not have with one single player on their current roster.
The Lakers clearly have the small forward position filled with Trevor Ariza and Luke Walton. They also already have Vuyacic for their outside shooting. The two teams look like they could help each other out greatly by making a trade together.