Not according to the Olive Oil Police...
Olive Oil Source: Cooking with Olive Oil
http://www.oliveoilsource.com/cooking_olive_oil.htm
"Trans Fatty acids: Olive oil has no trans fatty acids. When an oil
is partially hydrogenated it can be in the cis or trans conformation
which refers to which side of the fatty acid double bond the hydrogen
is on. Olive oil is not a trans fatty acid because it has not been
partially hydrogenated in a factory to make it solid at room
temperature like margarine has. Trans fat is created by bubbling
hydrogen through 250 to 400 degree hot vegetable oil in the presence
of a metal catalyst, usually nickel or platinum. The process can take
several hours. You cannot accidentally make trans or saturated fatty
acids at home on your range when heating olive oil or other oils."