ESPN's Jerry Crasnick has a series of tweets in which he describes the (or "a") current situation with Roy:
Just to make it clear: Roy Oswalt will not approve any trade unless his $16M option for 2012 is picked up. Cardinals. Phillies. The team doesn't matter. That part is pretty much non-negotiable. When Oswalt talked about "restructuring," he meant he might be willing to defer a part of the money. But that was it.