The Orioles announced that they have exercised their club options on left-hander Wei-Yin Chen ($4.75MM) and right-hander Darren O’Day ($4.25MM). Additionally, Roch Kubatko of MASNsports.com tweets that the team has declined its half of Nick Markakis’ $17.5MM mutual option (in favor of a $2MM buyout) and declined Nick Hundley’s $5MM option.

The decision to pick up the options on Chen and O’Day was an easy one, as both appear to be bargain rates relative to the level of production of each pitcher. Chen, a 29-year-old left-hander signed out of Taiwan, has been solid in three seasons for the Orioles and enjoyed his best year in 2014. In 185 2/3 innings in the Baltimore rotation, he pitched to a 3.54 ERA with 6.6 K/9, 1.7 BB/9 and a 41 percent ground-ball rate. In three years with the O’s, he’s totaled a 3.86 ERA in 515 1/3 innings while playing on a three-year, $11.388MM contract.

O’Day, who turned 32 last week, has been an integral part of the Orioles’ bullpen over the past three seasons but turned in his best work this year. Though he has a 2.05 ERA over 197 2/3 total innings in Baltimore, he pitched to a 1.70 mark this year to go along with 9.6 K/9, 2.5 BB/9 and a 44.6 percent ground-ball rate.

Markakis has been with the Orioles since being selected with the seventh overall pick in the 2003 draft. In nine seasons with Baltimore, he’s posted a cumulative line of .290/.358/.435. This past season, he posted a .276/.342/.386 line with 14 homers and a total of 2.5 fWAR/2.1 rWAR — a solid rebound campaign as he hits the open market for the first time. First, however, the O’s will have to decide whether or not to make him a $15.3MM qualifying offer. (I recently profiled Markakis and pegged him for a four-year deal without a QO and three years if he gets one.)

Hundley, 31, was acquired in exchange for lefty Troy Patton after Matt Wieters went down for the season due to Tommy John surgery. In 50 games and 174 plate appearances with the O’s, the former Padre batted .233/.273/.352 with five homers. He caught 19 percent of opposing base-stealers and graded out as a slightly above-average pitch-framer, per Baseball Prospectus.