Welcome, If this two stroke motor is new to you, they have a very oily exhaust, why, because 50-1 is for WOT, if your not going WOT all the fuel doesn't get burned, some of it get recirculated but not all of it. Smokey , some people say they stink, I would agree that, ,,
If this is not a new problem ,you don't have to fix it., Welcome to two stroke boating.
You could buy 100% synthetic two stroke oil, a lot less smoky, better for the environment, of course it costs more, walmart has a partial synthetic yellow jug, it's less than 100% syn, it's less smoky/stinky than non syn.