2. Proper noun. A diminutive of the female given names Olivia, Olive and Olwen. ¹
3. Noun. (context: snowboarding skateboarding) a manoeuvre wherein one catches air by lifting the front and tail ends off the ground at the same time; a hop. ¹
4. Verb. (intransitive) To perform an ollie. ¹
¹ Source: wiktionary.com