Schmidt (elbow) was activated from the 60-day injured list Wednesday and optioned to Triple-A Scranton/Wilkes-Barre.
Schmidt made his final rehab appearance with Double-A Somerset earlier Wednesday, signaling the end to his time on the injured list with an elbow strain. The right-hander got his workload up to 3.2 innings and should continue ramping up as a starter with Scranton/Wilkes-Barre, and he could be a rotation option for the Yankees down the stretch.