In a large skillet, cook ground beef until no longer pink, stir in water and taco seasoning and continue cooking for two more minutes. Remove from heat.
Preheat oven to 400° F.
Spread chips onto a large baking sheet and top with the seasoned ground beef.
Combine sour cream and water in small bowl; drizzle over beef. Sprinkle with cheese, olives and jalapeños, if desired.
Bake nachos for 8 to 10 minutes or until cheese is melted.
Serve hot.
Servings: 16