As Bellinger goes on a heater to close out the year, I do wonder what parts of Jed's plan change depending on Cody's opt out. Mike Tauchman covers a lot of what Cody brings to the table. Not as well obviously, but I'd say the skill gap is smaller than the salary gap.
Right now, if Bellinger opts in, there is ~$50M for Jed to play with this winter. Cody opting out makes than closer to $75M. At $50M you simply can't do all the necessary winter shopping in free agency, or least you can't do it well. A trade or two of substance feels more or less mandatory.
At $75M though? You can probably pull off a good offseason with just money if you're willing to eat a Qualifying Offer. Santander ($25M per?), Carson Kelly ($8-10M), Nate Eovaldi ($20-25M), and David Robertson ($12-15M), easy peasy.
So if Cody opts out, does Jed just take the path of least resistance and do his shopping all in FA? Does he still cover the bat or the SP in trade to make money less tight the following offseason? Does he push his chips in and make a five or dare I ask six moves of consequence? I would dismiss the latter out of hand if not for the fact that he's trying to earn an extension.