According to league insider Adam Schefter, teams are expected to be able to trade compensatory picks for the first time in 2016.
For first time this spring, NFL expected to allow teams to begin trading compensatory draft picks, per NFL sources. Should be more trades.— Adam Schefter (@AdamSchefter) November 19, 2015
In 2015, 32 compensatory picks were awarded to 14 different teams. The decision to award compensatory picks is based on the talent you lose through free agency in relation to the talent you acquire. The more you lose and the less you acquire, the more compensatory picks you receive.
With the off-season the Jets had, they are not in line to receive any compensatory picks in the 2016 NFL draft. However with many teams now having more assets to trade, it should encourage more activity on draft day.
Compensatory picks are usually released around the end of March.