The 40-man stands at 46 (39 + 7 on the 60-day IL). You also have more than 30 minor leaguers who are eligible for the Rule 5 Draft, and there are 5+ who should be considered for protection, particularly Henderson and Patrick. Basically, there are 48-49 guys fighting for 40 slots. My thoughts:
FA's: Miley, Montas, Sánchez
Traded: Williams
Non-tendered: Milner, Bauers
DFA 2 of: Capra, Jay, Hicklen
If only 2 are DFA'd and only Henderson is added that would leave the roster at 39. Space for a trade or a Rule 5 aquisition maybe.