Born in
Lima, Olivares started playing professionally with hometown's
Sporting Cristal, moving to
Deportivo Cali in Colombia in 1991 but returning to his first club shortly after. In August 1992 he joined
1. FC Nürnberg in the
Bundesliga, appearing in slightly more of the league's matches but scoring four goals in five games in October/November 1992 – three of those in 2–1 wins – as the
Bavarian club barely
retained its division status, finishing in 13th position but only two points clear of the relegation zone. Subsequently, Olivares signed for
CD Tenerife in Spain, being sparingly used in two-and-a-half
La Liga seasons (no games whatsoever in
his last, with the
Canary Islands team
qualifying for the
UEFA Cup) and partnering compatriot
José del Solar. In January 1996 he left for
Rosario Central in Argentina, representing in quick succession
Fluminense FC and
Cruz Azul. Olivares moved teams and countries again in the 1997 summer, spending the following four seasons in Greece, with
PAOK FC and
Panathinaikos FC. On 21 November 1999, while playing for the latter, he scored against
Olympiacos F.C. in a
local derby, the first win for the club in three years, but failed to win any silverware during his spell in the country. After a stint in the United States, Olivares returned to Peru, where he represented first club Sporting Cristal and
Alianza Atlético. He retired from the game at 37, making a short comeback two years later with
FC Thun in Switzerland. ==International career==