It is indeed protected both ways, which is NOT done very often; if ever (I personally have never heard of this).btw there seemsto be also some stipulationthat if the pick is too low (bad eg 14th) the Rockets dont have to take it. Complicated alright.
Generally these picks are protected for the trader only, (so they don't lose too good a pick) not the tradee.
But with Houston wanting protections as well to the pick, (ensuring they don't get a pick that is too 'bad') it makes it very convoluted.
Houston is banking on us being bad. BC is banking on us being Good, for a very long time. Let's see who wins this one.