Alvarez, 31, has slumped badly of late. Through 127 plate appearances, he owns a .180/.283/.414 slash with eight home runs. He has likely been unfortunate to carry a .179 BABIP, and has shown a solid walk rate (12.6%) and robust power output (.234 ISO), so there ought to be some interest from other organizations.
The real difficulty for Alvarez, of course, is his lack of defensive ability. Though the O’s have plugged him in at third base from time to time, few organizations will be really comfortable doing so. As a lefty who has traditionally done damage against right-handed pitching, there could yet be a niche for Alvarez, but there just hasn’t been much demand for that sort of player of late — as the plight of Adam Lind demonstrates.