The next exciting thing to happen in the world of baseball is the Transaction Deadline. It is a curious event in reality. Basically all it means is that players can be traded without going thru waivers before the deadline. This does cause a few trades to materialize. After the deadline, all players on the 40-man roster must go thru waivers before being traded.
Basically what happens is many teams tend to put players on reversible waivers after the deadline. Some teams may actually use this to clear the 40-man roster since all players must clear waivers to be removed and makes it a safe way to do so. A player claimed off reversible waivers can only be traded to the claiming club. Though sometimes the reversible waivers are not used so beware.
Most generally players in the last year of their contract or arbitration eligible players wanting extensive contracts wind up on waivers after the deadline. Generally playoff teams are the buyers, looking for a key player to help them to the playoffs. The losing club is hoping for a couple good prospects in the deal and usually want more than the player is worth most of the time in my opinion.
History of the world indicates that reversible waivers are used more extensively than others I have been in. One must consider several things for a trade after the deadline. Will the player sign a new contract or go FA? Is he a Type A or B player? Will he really help the team as opposed to the future considerations?