Preheat large deep skillet or a dutch oven on medium heat and swirl oil to coat. Add peppers an cook for 3-4 minutes, stirring occasionally. Transfer to a bowl with sliced tomatoes.
Return skillet to the stove on medium-high heat and add chicken. Cook for 5-7 minutes or until opaque, stirring occasionally. If any juices appear do not drain. Add water (I usually boil a kettle to speed up cooking) or stock, olives, salt, pepper, bay leaves and gently stir. Take a bunch of spaghetti and snap in 3 adding to the skillet. Give a gentle stir to mix ingredients.
Cover and cook for 10 minutes. Remove lid, stir well softened spaghetti with the rest of ingredients, cover and cook for 5 more minutes. Turn off heat and add previously cooked peppers, tomatoes and basil. Stir and serve hot.