Yes, ole is in the scrabble dictionary

...and is worth 4 points by itself.

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Ole Definition

interjection

An interjection used to stir up excitement.
source from Wiktionary
Bravo.
source from Oxford Dictionary

adjective

Eye dialect spelling of old.
source from Wiktionary
Old.
source from Oxford Dictionary

residual

Object linking and embedding, denoting a set of techniques for transferring an object from one application to another.
source from Oxford Dictionary

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Top Words by points

Points

ole

3

2 letter words with OLE

Points

el

2

lo

2

oe

2

3 letter words with OLE

Points

ole

3

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