Windows 7 will never defrag SSDs. However, Windows 8/8.1/10 will in some cases. This happens during the first maintenance window after installing the operating system for the first time, and very roughly, about once a month, regardless of the optimization interval set in the defragment/optimize window. You can check this out in the system event log.
It's true that clicking "optimize" there won't defragment the SSD and TRIM pass on the free space will be performed.
File system fragmentation can indeed degrade read performance in on SSD pratice, though. During read operations, the operating system has to send a new I/O command for every non-contiguous/non-sequential sector range for any given file. The more fragmented a file gets, the more the overall read task will become random-like, and as you should know, random performance is usually lower than sequential performance, even on SSDs.
Luckily, unlike hard disks, SSDs don't suffer from seek latency and the file system-level performance penalty of fragmentation on SSDs is usually low enough that even a relatively high fragmentation won't be very noticeable in most cases. Most people didn't notice there was a performance problem with their Samsung 840/840 EVO SSDs, after all.
I've tested the effect of file system fragmentation on SSD performance in the past:
http://forums.anandtech.com/showpost.php?p=37091621&postcount=34