According to CBS Sports' Jon Heyman, the White Sox will not exercise Jake Peavy's $22 million option for 2013. It's a no-brainer move for the Pale Hose, even though Peavy has posted great numbers this season. The 31-year-old right-hander will get a $4 million buyout, then head to the free agent market in search of his second big contract. He has a 3.26 ERA, a 1.11 WHIP and 177 strikeouts through 198 2/3 innings this summer for first-place Chicago.

Jake Peavy was hit hard in Friday's loss to the Tigers, allowing six runs on nine hits over his six frames. He also walked four and struck out four on the night. Peavy was working on an extra day of rest, after having his start pushed back due to an eye infection. Miguel Cabrera got the Tigers on the board with a two-run blast in the first inning. Even with the rough outing, he still enjoying a solid season, posting a 9-10 record, 3.28 ERA and 159/41 K/BB ratio over 181 innings. He'll look to get back on track when he faces the Twins at home on Wednesday.

A virus in Jake Peavy's eye has cleared up, and he's all set to start Friday in Detroit. Peavy will be working on six days' rest, as the White Sox had already decided to push him back a bit before the eye issue. He's posted a 3.09 ERA and 1.08 WHIP in 25 starts this season.

Jake Peavy will make his next start Friday against the Tigers. Peavy last pitched on Friday, so he'll get some extra rest. The White Sox have yet to announce a starter for Wednesday's game against the Orioles, but they will likely rely on a combination of Philip Humber and Hector Santiago.

Jake Peavy has been named to the American League All-Star team as an injury replacement for C.J. Wilson. Wilson pulled himself from the game with an undisclosed injury. Peavy should have made the team in the first place, but will accept the honor belatedly. Already a top contender for AL Comeback Player of the Year honors and a dark horse in the Cy Young race, Peavy went 7-5 with a 2.85 ERA and impressive 108/26 K/BB ratio through 120 innings in the first half.

Jake Peavy gave up four runs over eight innings in a loss to the Yankees on Saturday afternoon. Peavy struck out 11 in the losing effort, his first double-digit strikeout game since May 22, 2009. Three of the four runs scored on solo homers. It was Peavy's fourth complete game of the season, though he has taken losses in three of them. Still, he owns an outstanding 2.96 ERA and will make his final start of a resurgent first half next week against the Blue Jays.

Jake Peavy wasn't great against the Twins Monday, allowing three runs on 10 hits and a walk over six innings. He did strike out seven, but giving up a season-high 10 hits to a weak Twins lineup is disappointing. Also disappointing has been Peavy's run support, and it's resulted in zero wins over his last five starts despite posting a 2.36 ERA. He'll try again for win No. 7 this weekend against the Yankees.

Jake Peavy had a rare off night for him on Thursday, allowing three runs (two earned) on four hits and five walks in a no decision against the Blue Jays. Peavy did manage to strike out four, but he struggled with his command throughout the night. All of the damage against him came in the second inning when the first three Blue Jays reached, and Mike McCoy delivered a two-run single. He'll take his impressive 6-1 record and 3.05 ERA with him when he takes on the Cardinals in St. Louis on Wednesday.

Jake Peavy pitched well against the Mariners on Friday, allowing just two runs on three hits over 6 1/3 innings. Peavy struck out four and walked three in the game. The only blemish on his night was Kyle Seager's two run blast in the seventh inning which chased Peavy from the game. He remains at 6-1 after the no-decision, and raised his ERA to 3.05 in the outing. He'll look to get back in the win column when he welcomes in the Blue Jays on Thursday.

Jake Peavy gave up seven runs over 6 1/3 innings against the Indians Saturday, but still earned his sixth win. The White Sox staked Peavy to a 4-0 lead after one inning, but he had to scramble to hang on. He did strike out nine and walk just one, lowering his ERA to a sparkling 0.92 in the process. With the light-hitting Mariners on deck, owners shouldn't be overly concerned.