Do your ancestor come from Scandinavia? I think your name consists of two names, Ole and Thus. Ole is a common name in the North but " Thus" is maybe a variation of "T(h)iess", which is a northern diminutive of Matthias. But I'm not sure. When I saw the name this came into my mind. I hope it helps.
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meaning - Olethus(o-lee-thus) Oct 5 2008, 9:59:06 PM