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Roy Oswalt Will Waive No-Trade Clause And Head To Phillies

Just to make things a little more official, but still unofficial, Roy Oswalt has agreed to waive his no-trade clause to go to Philadelphia:

Roy Oswalt has approved a trade to the Phillies, a baseball source confirmed, but the Astros are still waiting to hear back from the Phillies on completing a deal.

Ken Rosenthal fills us in on how his 2012 option situation will play out:

Oswalt option for '12 actually mutual option. With trade, buyout will increase from 1M to 2M if Phillies pick up option and Oswalt declines, becoming FA instead. Buyout will remain 1M if he simply opts out on his own.

A mutual option is an option to which both parties must agree in order for the option to vest.

The trade isn't yet official, but it's the nearest it's ever been.