The Orioles have declined their $11 million option on the contract of Mark Reynolds for next season.

Reynolds is still under team control and could be retained if the Orioles offer him arbitration or the two sides work out a deal.

He got off to the worst start of his career and struggled offensively most of the season, but did hit 23 home runs. Reynolds made $7.5 million in 2012.

Rafael Soriano opted out of his contract with the Yankees on Wednesday, a decision that had long been expected.

The Yankees are expected to counter by issuing a $13.3 million qualifying offer to the reliever later this week.

Soriano is believed to be seeking a four-year deal after saving 42 of 45 games for New York with a 2.26 ERA.

Ryan Ludwick has declined the $5 million option in his contract for 2013.

He hit .275/.346/.531 with 26 home runs and 80 RBI in 125 games with the Reds this past season.

The Royals have declined their 2013 option on Joakim Soria, making the reliever a free agent.

Kansas City chose to exercise a $750,000 buyout clause on Soria rather than pay him $8 million next season.

The two sides have expressed interest in working out a new deal despite the decision.

The Indians have picked up the $5.75 million option on Ubaldo Jimenez for the 2013 season.

Jimenez went 9-17 with a 5.40 ERA in 31 starts last season.

He has been a disappointment since Cleveland acquired him from Colorado in 2011 for top pitching prospects Alex White and Drew Pomeranz.

The Angels are expected to make at least one trade this week.

They are aggressively trying to move Dan Haren and Ervin Santana before having to decide on their 2013 options, according to Major League sources.

"I think they trade both guys," one rival executive said.

Los Angeles will not exercise Santana's $13 million option, a source said, and there is every indication that they will decline Haren's $15.5 million option as well.

The Rays have picked up the $1.8 million option on the contract of Jose Molina for next season.

With his reasonable contract, Tampa Bay sees Molina as a nice veteran reserve.

The White Sox have declined options on the contracts of Kevin Youkilis and Brett Myers.

Myers, who was acquired from the Astros on July 31, went 3-4 with a 3.12 ERA in 35 relief appearances with the White Sox.

Youkilis batted .236 with 15 home runs, 46 RBIs and 47 runs scored in 80 games with the White Sox after coming over from the Red Sox.

The White Sox have agreed to a two-year, $29 million contract extension with Jake Peavy.

He went 11-12 with a 3.37 ERA in 219 innings and 194 strikeouts in 32 starts in 2012.

Peavy will receive $14.5 million in both 2013 and 2014 and if he reaches innings pitched thresholds, he can elect to extend the contract to include the 2015 season at a salary of $15 million.

The Mets have exercised the $16 million option on the contract of David Wright for the 2013 season, according to a Major League source.

The team is going to try to hammer out a long-term extension with Wright, who had spent his entire career with the franchise.