After the 2008–09 season, Šmíd was part of a trade negotiated between the Oilers and the Ottawa Senators that would have seen him, as well as teammates Andrew Cogliano and Dustin Penner, dealt to Ottawa in exchange for forward Dany Heatley. Heatley, however, refused to waive the no-trade clause in his contract to go to Edmonton, and after more than a month of the Oilers unsuccessfully trying to persuade Heatley to change his mind, the trade fell through and Šmíd remained with the Oilers.[5] In October 2009, the Oilers revealed that Šmíd had been diagnosed with H1N1, though he did not miss any games as a result.[6]
In Šmíd's sixth season in the NHL, he turned into a reliable shutdown defenceman, often paired with Jeff Petry on defence and playing against other teams' top lines each night. Šmíd finished the season with a positive plus-minus rating, and was in the top ten in blocked shots for the majority of the season.[7] Šmíd suffered a neck injury in a game against the Los Angeles Kings; despite avoiding serious neck injury, he did not play in any of the Oilers' remaining games in the season.[8] He ranked top five in the NHL for blocked shots for the 2011–12 season, also receiving attention for accidentally hitting Oilers Head Coach Tom Renney with a puck after deflecting it into the air during a drill during practice.[9]
On April 1, 2013, Šmíd signed a four-year, $14 million contract extension with the Oilers. At the time of his signing, he was in the final year of a two-year deal worth $2.25 million per season.[10]
With his tenure with the Flames marked by a lingering back injury, Šmíd in his last year under contract sat out the entirety of the 2016–17 season, in order to rehabilitate his injury. As an impending free agent, on May 23, 2017, Šmíd signed a two-year contract in returning to his original club in the Czech Republic, HC Bílí Tygři Liberec of the ELH.[12]
On March 29, 2022, Šmíd announced his retirement from professional hockey following HC Bílí Tygři Liberec's elimination in the 2022 playoffs. The loss came after the second longest game in the history of Czech ice hockey against HC Sparta Praha. Šmíd played more than 40 minutes in his final game.[13]