If Penny can put together 1 or 2 more solid starts, it's a good possibility he get's traded.
They could look at Texas, they might be looking for pitching. A number of NL contenders could likely use Penny as well. He has value. Throw in a prospect or two and it could be a major deal. If it's just Penny himself, then I wouldn't expect the return to be too exciting.
I've been reading around on some Ranger boards. The general opinion there is Chris Davis 1B/DH is available. They have some big time prospect on the heels of replacing him, Smoak is his name I believe. Davis lacks plate discipline but is a big power LH bat, and those don't grow on trees.
What about a Penny/Bowden(Masterson.Hadagone)/MDC+1 additional prospects for Teagarden and Davis?