Preheat the oven to 400°F. Line a baking sheet with parchment paper for easy cleanup.
Rinse the asparagus and trim off the woody ends. Arrange the spears on the baking sheet, drizzle with olive oil, and sprinkle with salt, pepper, garlic powder, and onion powder.
Wrap each asparagus piece with a half slice of bacon, placing the seam side down.
Bake for about 20-25 minutes, or until the bacon is crispy and the asparagus pieces are tender. If using, sprinkle Parmesan on top when serving.