01 - Set the oven to 400°F and allow it to fully preheat.
02 - Heat olive oil in a large skillet over medium heat. Add finely chopped onion and sauté for 2 to 3 minutes until translucent.
03 - Add minced garlic and cook for 30 seconds. Incorporate ground beef and cook until browned, approximately 5 to 6 minutes.
04 - Drain excess fat if necessary. Stir in ground cumin, smoked paprika, chili powder, salt, and black pepper. Cook for an additional minute, then remove from heat.
05 - Spread tortilla chips evenly on a large ovenproof baking tray or platter.
06 - Distribute the seasoned beef uniformly over the tortilla chips.
07 - Generously sprinkle shredded cheddar and Monterey Jack cheeses over the beef layer.
08 - Scatter sliced jalapenos, diced tomatoes, and black olives (if using) evenly over the cheese.
09 - Place the tray in the preheated oven and bake for 8 to 10 minutes until the cheese is fully melted and bubbly.
10 - Remove from oven, garnish with fresh cilantro, and serve immediately with sour cream and guacamole on the side.