12:01pm: McCants has received word that the Rockets officially picked up Patterson's option, tweets Berman.
11:55am: Rockets GM Daryl Morey has informed Patrick Patterson's agent, Odell McCants, that Houston will be exercising its 2013/14 option on Patterson, tweets Mark Berman of FOX 26 Houston. The fourth-year option will pay Patterson about $3.11MM in '13/14.
In addition to Patterson's option, the Rockets still have decisions to make this week on two more players for 2013/14. Cole Aldrich has a team option worth about $3.25MM, while Marcus Morris has a third-year option worth about $1.99MM. Houston initially had five pending option decisions, but the team waived JaJuan Johnson and Lazar Hayward, choosing not only to turn down next year's options on both players, but removing from the roster immediately.
To keep tabs on all the offseason's 2013/14 option decisions, check out Hoops Rumors' tracker.