01 - Preheat the oven to 400°F.
02 - Heat olive oil in a large skillet over medium heat and sauté finely chopped onions for 2 to 3 minutes until translucent.
03 - Add minced garlic and cook for 30 seconds, then stir in ground beef and cook until browned, about 5 to 6 minutes.
04 - Drain excess fat if necessary, then mix in cumin, smoked paprika, chili powder, salt, and black pepper. Cook for 1 minute and remove from heat.
05 - Spread tortilla chips evenly on an ovenproof baking tray or platter, then spoon cooked beef over the chips.
06 - Sprinkle shredded cheddar and Monterey Jack cheeses on top, followed by sliced jalapenos, diced tomatoes, and black olives if using.
07 - Place tray in the oven and bake for 8 to 10 minutes until cheese is melted and bubbly.
08 - Remove from oven, garnish with fresh cilantro, and serve immediately with sour cream and guacamole on the side.