Chop olives. Cut bell peppers lengthwise in half, and cut out seeds and membrane. Finely chop enough of bell pepper to measure 1/4 cup.

Mix olives, bell pepper, sour cream, cheddar cheese, parsley, and cream cheese in a medium bowl. Spread about 1/2 cup of cheese mixture over one side of each tortilla. Roll tortilla up tightly. Repeat with remaining tortillas and cheese mixture.

Wrap each roll individually in plastic wrap. Refrigerate at least 3 hours, but no longer than 24 hours. Cut each roll into 1 inch slices.