[2] Olmsted began the 1980 season with the AA Arkansas Travelers in the Texas League before being promoted to the AAA Springfield Redbirds of the American Association.

[3] Olmsted made his MLB debut on September 12 starting the second game of a double-header against the Philadelphia Phillies at Veterans Stadium.

[1] Following the 1980 season, Olmsted was involved in a multi-player trade when the Cardinals sent him along with pitchers John Littlefield, Kim Seaman, and John Urrea, catchers Terry Kennedy and Steve Swisher, and utility infielder Mike Phillips to the San Diego Padres for pitchers Rollie Fingers (who would be traded to the Milwaukee Brewers a few days later) and Bob Shirley, catcher/first baseman Gene Tenace, and minor league catcher Bob Geren.

[2][11] In February 1982, Olmsted was again involved in a multi-player trade between the same two teams when he was the "player to be named later" in a December 1981 trade in which the Padres sent him along with pitcher Steve Mura and shortstop Ozzie Smith to the Cardinals in exchange for pitcher Luis DeLeón, right-fielder Sixto Lezcano, and shortstop Garry Templeton.

[1][3][11] He completed his professional career in 1982 playing for the Louisville Redbirds, the Cardinals' AAA farm team in the American Association.