First off it's my first guide ever so i hope this helps, I frequently play Olaf and in both ways. I find that tanky dps is great for ranked games and the most efficient way to play Olaf ao you can survive for long. Any comments and or tips on how to make this guide better/ how it helped will be appreciated :).

For runes I use the armor pen marks since the Vicious Strikes provides you with a hefty amount of damage. The health per level seal so Vicious strikes can do some serious damage. The magic resist per level glyph so you can stop those nukes from hitting you too hard. Finally the 2 armor quints for that early game laning (more in depth in laning) and the armor pen quint for well more armor pen.
Masteries i go the 9/21/0 for that extra bit of damage and that tankyness which will greatly help in lane.
The main Olaf items will be Berseker Greaves, Frozen Mallet,Maw of Malmortious, Atmas Impaler, Sunfire Cape and Force of Nature usually in that order so you get real tanky late game and early game you can deal massive damage while still being able to tanke heavily. One thing i didnt inlude is you can trade the force of nature for the Banshee's Veil for that extra hp, however I prefer the Force of Nature for the extra regen and movement speed, I make the exceptions though. For example when they have a fed leblanc, who relies heavily on her combo to deal damage and the banshee's breaks that combo (however the maw also helps for this).

You might be wondering why not level one ability completely and then pass on like the usual skill sequence, the thing is Olaf's 3 abilities help him deal massive damage and all help him lane, and survive. I level the e and w because those 2 help you deal heavy harass while having a lot of sustain and, if necessary, good 2v1 availability. The reason I do not level my q instead of e is if I happen to be in lane with someone very tanky the q will not be doing so much damage. Always pick up the ult at level 6,11,and 16 as always, the thing most players get wrong about Olaf's ult is that they will tend to use only after they get ccd, whenever you feel like going in for a kill with olaf first q then use your ult and ghost if necessary to get them, chances are you kill them and even if you don't the ult has an insanely low cooldown for such a good ultimate.
*remember that Olaf's ult will also give armor and magic resist so it makes it even more of a reason to go into a fight with the ultimate up

Exhaust is always a good spell in solo top, since it reduces the damage dealt it would make your tankyness+exhaust in a 1v1 situation a guaranteed win in your lane.
Ghost- a good excape and chase, great for tower diving and when combined with your ult you become a truck

While laning your quints will help you be able to trade hits, combined with your w and your passive, so you come out on top. While laning don't be scared when your health begins to get low as using your w and ult will have them attacking you and doing minimal damage to you. Remember the true damage! alot of people get scared to use this because if takes away health but remember it synergises with your passive and deals heavy damage that is guaranteed. When getting ganked make sure to view your situation, if you are level 6 and have already gotten your phage(possibly even the giants belt) and berseker greaves and the enemy lane and jungler are not completely full health it might be worth trying to 2v1 (this is all situational it depends the enemy laner, if your enemy lane is say garen and the jungler is mundo, its not worth it)
There are some characters that you will have problems dealing with solo top, mainly renekton since he can go in harrass stun and leave without letting you trade hits efficiently, however this harrass falls off in olafs case when you hit level 6.
Another bad lane to try to trade hits with is garen since he can use his w to reduce your damage and, since olaf relies on his passive alot too garens ultimate will take you out quick, plus his ability to take off slows will also make it hard for you to get your lane to gank.
Riven is another one who can do pretty much what renekton and garen can do because of her ultimate and her heavy CC.

Pros

Great Damage
Very Tanky
Very good at taking out towers
Has great Dueling ability
Passive makes him stronger combined with his ult and Vicious Strikes

Cons

Good tank killer (ult passive and true damage)
EXCELLENT Early game
Expensive build
Late games falls off horribly unless gets at least 4+ kills
Does not do well against ranged AD carries since most of his abilities are close range
Does not have a very good gap closer
Lacks in CC
Vulnerable to hard gankers until level 6 (Shaco,Mundo, Xin zhao etc)
Edit* by falls off I mean his damage, however Olaf is a great tank all game

Olaf is a great top solo lane with very few characters who could come out on top, Olaf is a very hard bruiser/tank because of his ability to do more damage the more tanky he is he is (when he has a decent amount of kills) a very good 2 or even 3v1 champion while still being able to walk off from it with over half hp. Olaf is great intiator too, not having to get any tenacity because of his ultimate so many times people will blow off their cc on him out of just a sort of natural response.
I hope this guide helps :)