Olmos was initially claimed off waivers by Chicago from Seattle on Dec. 4. He was then claimed off waivers by Baltimore on Dec. 10.
Olmos spent most of last season at Triple-A Tacoma. He made six appearances and two starts for the Mariners, going 1-0 with a 4.50 ERA.
Ryan was acquired from the Yankees as the player to be named in the deal that sent infielder Starlin Castro to New York for pitcher Adam Warren this month. The 33-year-old Ryan was limited to 47 games due to strains of a calf and his back. He had a guaranteed $1 million salary.
Medina was designated for assignment Dec. 17 after going 1-0 with a 4.71 ERA in 17 relief appearances for Seattle and the Cubs.