In a large soup pot, add olive oil over medium-high heat.
Once the oil is hot, add bell peppers, onion, and jalapeño. Cook until the onion is translucent and the vegetables are starting to soften.
Add garlic, kosher salt, chili powder, smoked paprika, cumin, and black pepper. Stir to combine and cook for another 30 seconds just until the garlic is fragrant.
Add chicken stock and shredded chicken. Bring to a boil and then lower the heat and simmer for 15 minutes to help combine the flavors.
Right before serving, add the cilantro and lime juice and stir to combine.
To serve, add soup to a bowl and stop with avocado.
Serving suggestion: Top with additional chopped cilantro, lime slices, and tortilla chips if desired.