Basically, a teamis limited to the number of times a player may be moved between the majors and minors (I'm not sure, but I think it's five times). Once they are "out of options" the player has the right to refuse the move and become a free agent.
The rule was put into place to prevent team from abusing the promotion process (example: a team had two excellent minor leaguers that they needed for the "stretch run" but only one roster spot. Without the rule, that team could continue to promote one and demote the other as needed).

When they are gone, they are gone.

After three years as a pro, a player must be protected on the 40 man roster. If they aren't, they can be taken in the Rule V draft.
If they are put on the 40 man roster, that team can option him back and forth as many times as they want for three YEARS.
After his third year, he must pass through waivers in order to be sent down to the minors.

The reason for my question is what is going on in Tampa Bay......Scott Kazmir is coming back from the DL this week. I am not arguing that. What I get disgusted with is that they are thinking about sending Andy Sonnanstine to the minors or the bullpen because he still has options. Besides James Shields, Sonnanstine has been the Rays hottest pitcher. If Garza struggles today, they need to send him to the minors to get him better. What do you think about the topic of player options?