In a large pan, heat the olive oil (or, because you love yourself, the olive oil and butter) over medium-high heat. Add the corn kernels in an even layer. Leave them alone about 2 to 3 minutes until starting to brown, then season with salt and pepper. Continue to cook, tossing occasionally, until the corn is well browned in spots and popping in the pan, 6 to 8 minutes (this will take a little longer — about 10 minutes total — if you go the all-oil route).
Add the pepper and continue to cook until slightly softened but the peppers haven't completely lost their crunch, about 2 minutes. Pour in the sriracha and toss to coat. Remove the pan from heat.
Add the cilantro and Cotija and squeeze the lime half over everything; stir to combine. Season with salt and pepper to taste before serving.