Place the popped popcorn in a large brown bag (the kind you get at the grocery store). Sprinkle some olive oil on the popcorn and shake the bag so the oil gets on as many pieces of popcorn as possible. At this stage you could also use a mister filled with the olive oil and spray the popcorn. Add the bacon and season with black pepper, cayenne, and salt. Shake the bag again and place in a large bowl.
Enjoy!

Note: bacon does not stick very well to popcorn, so after you eat all the popcorn save the leftover spices and bacon pieces and use them in an omelette the next morning.
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