Don’t underestimate the importance of Giants wide receiver Jerrel Jernigan’s two-catch, 26-yard performance in the preseason win over the Jets last Saturday.

After muffing a punt in the previous game, Jernigan didn’t line up as a punt returner against the Jets.

Tom Coughlin said Jernigan is still in the mix at punt returner (Jernigan did line up at kick returner against the Jets) but if he has lost the punt-return job to rookie Jayron Hosley then it’s vital he become a contributor on offense or risk being cut when the rosters drop to 53.

That’s why Jernigan’s 19-yard reception, in particular, is such an important piece of film for the Giants to evaluate. Despite being targeted twice, he failed to make a catch against the Jaguars in the first preseason game, but his run after the catch against the Jets really showed his elusiveness.

“Yeah, I was happy,” Jernigan told CBSSports.com. “There’s always some little things you could do better, but it was nice to be out there catching balls, in the mix.”

At 5-8, Jernigan is meant for the slot, which is of course where Victor Cruz plays. But when the Giants go to four-receiver sets, Jernigan gives Eli Manning a real threat underneath the coverage.

“I feel real comfortable,” Jernigan said about the role. “That’s been happening for a while. I was out there, me and Victor in the slots, Hakeem Nicks and Domenik Hixon on the outside. We’re all good athletes. We give Eli more chances.”

Jernigan isn’t the only slot receiver trying to make the team. Former Giants practice squad player Dan DePalma and undrafted rookie David Douglas (who did line up at punt returner against the Jets) have each looked comfortable in the slot, but since each player still has practice-squad eligibility, the Giants could try and stash them.

So far the numbers are currently in Jernigan’s favor. If Cruz were to get injured, there’s no one on the team capable of stepping in at his spot. But if the Giants decide that depth issues at other positions would limit numbers at receiver, Jernigan could be in trouble.

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That’s why it’s important for Jernigan to remain a factor on special teams -- both as a kick returner and a punt returner.

Follow the Giants and Alex Raskin @CBSSportsNFLNYG and @AlexRaskinNYC.