The Rangers optioned Peoples to Triple-A Round Rock on Saturday.
Peoples has posted a 2.19 ERA and 1.05 WHIP over 12.1 innings since joining the Rangers in early July, but he'll end up as the odd man out of Texas' bullpen following MacKenzie Gore's return from paternity leave. Peoples has also performed well at Triple-A this season (2.39 ERA, 1.10 WHIP) and is a likely candidate to return to the majors later this season whenever the Rangers need a fresh arm.