HEAT olive oil and popcorn in a pot over medium heat. Cover and shake frequently as kernels begin to pop. Remove from heat once popping begins to slow.
MELT butter over medium-high heat in a separate pot and pour over popped popcorn.
ALLOW to cool slightly.
MIX together cayenne and cumin and sprinkle over popcorn. Grate Parmesan over the popcorn, tossing to mix. Serve.