OK. You are correct. But I found a more to the point reference:
MLB Rules – Out of Options.
This is why Out of Options players are so popular in Spring Training.
Clubs begin spring by having their entire 40-man roster in camp, by the end of spring they must set a 25-man Opening Day roster. Those 15 players who don’t make the team because of skill level, experience or positional depth must be optioned to Minor League camp. If they don’t have an option remaining, they must go through waivers or be traded.
Prior to each spring, most if not all Clubs submit a list of Out of Option players to their scouts covering the exhibition games. (For a sample list check out MLB Trade Rumors
Out Of Options 2009) The scouts and front office monitor these players closely – evaluating both their skills and chances of making their current team.
Take Josh Anderson for example, at some point this spring the Braves decided they were a better team with Jordan Schafer as their CF. They may have started calling other Clubs searching for a trade partner or Detroit may have contacted them knowing his situation. Either way, the Tigers had been watching him and felt he could make their team better so they made an offer to Atlanta and a trade was consummated.

Niemann wins the job and gets to stay...
Hayden Penn for Robert Andino is a great trade of one Out of Option player for another. The Marlins used some infield depth to acquire an arm from the Orioles – and Baltimore felt Andino was an upgrade over Chris Gomez. Win-win.
Jason Hammel loses the battle for the number 5 spot Tampa’s rotation and is traded to Colorado. (he could have been the more tradable asset) On the other hand Jerry Owens loses the CF battle in Chicago and is outrighted to AAA Charlotte.
Out of Option players can force a transaction – whether it’s a trade, waiver claim or outright, something is going to happen.
This is why they receive so much attention in the front office and the media.