Could someone explain the MLB trade deadline??

The non waiver deadline is July 31...before which players can be traded freely. After that, is the wavier trade period. Players can ped through waivers and still be traded. When waived, other teams can claim them (based on standings), if claimed the original team can rescind the waiver and take him back, trade the player to claiming team, or release him outright to the claiming team. If the player pes without being claimed, he can be traded.