Rockies Undecided On Olivo Option

2:52pm: The Rockies have not determined whether they'll pick up their side of Olivo's option, tweets Troy E. Renck of the Denver Post.  Renck says the Rockies are keeping an open mind, with Victor Martinez on the radar.  At #20, the Rockies would give the second-best available draft pick to the Red Sox if they sign V-Mart after he turned down an arbitration offer.

8:11am: The Rockies will exercise their option on catcher Miguel Olivo, tweets Tracy Ringolsby of Inside The Rockies.  By reaching his 110th game played on September 26th, Olivo's club option became mutual and jumped up to $2.7MM.  That means Olivo could still decline the option in search of a bigger payday or multiple years, though he told Jim Armstrong of the Denver Post last month he wants to stay.

The 32-year-old backstop hit .269/.315/.449 with 14 home runs in 427 plate appearances this year for the Rockies.  He caught 935 innings, throwing out 42% of attempted thieves.  His presence in 2011 would again create an uncomfortable situation for Chris Iannetta, who is on a multiyear deal running through 2012.  Iannetta has a 2013 club option he can void if he's traded, which seems like a legitimate possibility this winter.

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