Smid and goaltending prospect Olivier Roy were sent to Calgary in exchange for centre Roman Horak and goaltending prospect Laurent Brossoit.
At 4-11-2, the Oilers are in last place in the NHL's Pacific Division. Rumours swirled that they had been talking trades with other teams, but the concern seemed to be about picking up help on defence.
Instead, Edmonton traded from their blue-line. Smid, 27, has three more seasons after this one left on his contract with a US$3.5-million salary-cap hit.