The recipe is asking for 2 sticks of butter.
But I don't have any butter sticks.
Would it be okay to just use 1 cup of the Land O' Lakes spreadable butter with olive oil?
Their website says they do not recommend baking with it because it doesn't contain the same fat content as butter does. Depending on what you are making, you may be able to get away with it, but I would run to the store and buy butter.
I wouldn't suggest it.
Substitutions for butter are tricky because butter is not 100% fat, the way olive oil or canola oil or coconut oil is. Butter is fat, water and "solids," not just pure fat. What butter does in the chemistry of baking is far more than what it does on a slice of toast.
Margarine, or hydrogenated (water emulsified into liquid oils to made them "solid" or "spreadable" & opaque) fats, usually have a little more added to them besides fat and water, so they, too, do not act like butter.
I do a fair amount of substitutions in my baking, and I've gotten to be ok at parve and GF baking, but very few ingredients do what butter does in a cake or a cookie.
But baking for yourself and your family and friends is all about the flavors and textures you prefer. You might find that a cookie made with emulsified olive oil spreads/thins quite a bit more than one made with butter, for example - but if that's to your liking than you've learned something new :} In a cake, a substitution might be more tricky because butter, creamed with sugar, binds with the protein in eggs and holds air to create an airy crumb.
Please do let us know what you decided to go with - all baking is a lifelong experiment - with less right or wrong answers, and more delicious and curious foods!