Wash and trim fresh asparagus, then steam until barely tender, about 4 minutes. Immediately plunge into ice water to stop the cooking process and retain color and nutrients. Pat dry.
Lay out thin slices of capicola on a flat surface and place olive oil and balsamic marinated grilled peppers on top. Add whole basil leaves and asparagus and roll up jellyroll fashion. Secure with toothpicks.
Heat a heavy skillet over medium heat with just enough olive oil to prevent sticking. Pan-roast until the edges of the meat begin to crisp and the asparagus starts to brown, about 2-3 minutes per side.
Drain briefly on paper towels, then transfer to a plate and dress with pecorino Romano, black olives and freshly ground pepper.