Two seasons ago, the Colts traded down from the 3rd overall pick to the 6th overall pick. They used that on guard Quenton Nelson. Last season, they traded away their first round pick and didn’t make any selections until early in the second round.
The Colts haven’t moved up in the first round of the draft in nearly 20 years. The last time they did was in 2001 for Reggie Wayne. I would say that worked out pretty well, as Wayne was a finalist for the Hall of Fame for this year’s class and will likely get in soon.