1. Preheat the oven to 400 degrees. Line a baking sheet with aluminum foil.
2. Drain the olives and spread out on the baking sheet. Sprinkle with dried basil, crushed red pepper and black pepper. Arrange the thyme springs around the sheet. Drizzle with olive oil and red wine vinegar and shake the tray lightly to mix.
3. Bake for 10 minutes.
4. Serve hot from the oven, or chilled.