Bring up sides of each dough strip over pepperoni and cheese, and tightly pinch together, stretching dough as necessary to fully enclose cheese and pepperoni; pinch ends to seal. Lightly roll and shape into 16-inch logs. To make pretzel shape, form each log into U-shape, then cross the ends and fold dough over so ends rest on bottom of U-shape. Place pretzels on cookie sheet. Brush pretzels with remaining 1/2 tablespoon oil; sprinkle with Parmesan cheese.