Why was the Olive wood being so naughty.??
Hahahahahah Jgrden, I think I can answer that on toolcrazy's behalf, well..., that blank is "knotty" because it has knots, and is "naughty" because it end-up being "rubbed" buy another male, not without going for a trip half way around the world!
Can you see she saying..., "hey, look at me, look at me, ain't me the prettiest thing...?"

:tongue::biggrin:
Seriously, Olive wood with "fine" heartwood grain can produce some beautiful effects, including some knots. These are internal formed knots, as is no connection and or branches joints that could explain them. Now, what created the formation of the circular "rays", was small little shoots that started forming on the outside of the young branch but, soon have died or dried off. As the branch developed, the sapwood soon covered the little scars on the outside but, the heartwood pattern was then formed when those little shoots started growing, which continued growing in size since and for well over 100 years.
Most of the olive branches that develop fine grained heartwood, have generally large amounts of nice yellow sapwood around, making the overall size of the heartwood circle (not always circle), 1/2 to 1/3 of the log diameter.
I'm adding a few pics pics, to make my explanation easier to understand!
Cheers
George