Giants exercised Jeremy Affeldt's $5 million club option for 2012. Affeldt would have been owed a $500,000 buyout if the Giants declined. It's the second transaction the club made Sunday concerning a left-handed reliever after inking Javier Lopez to a $8.5 million, two-year contract. San Francisco has single-handedly dried up a weak lefty free agent market, but has now devoted $9.25 million to Lopez and Affeldt for the 2012 season. Affeldt, 32, posted a 2.63 ERA and 54/24 K/BB ratio over 61 2/3 innings in 2011. The southpaw needed season-ending surgery in early-September after cutting his non-throwing hand in a kitchen accident. He should have no trouble getting back to 100 percent health by the start of spring training.