Preheat oven to 200 degrees. Line a baking sheet with parchment paper or
a silicon liner.
In a bowl toss pretzels and olive oil to coat. Sprinkle cheddar cheese powder and jalapeno powder over the pretzels, and mix until well coated.
Spread on prepared baking sheet. Bake for 60 minutes, stirring every 15 minutes.
Remove and let cool completely. Let sit for at least 4 hours before serving, best served the next day. Store in an air tight container for up to one week.