Clean squid (see directions at bottom of instructions). Cut squid into 3/8 inch rings.
Place 8 cups water, salt and ONE bay leaf in a large saucepan. Bring to a boil and add the calamari. Reduce heat and simmer for 5 minutes. Drain and dry well.
Pack the squid rings in a clean dry 2 cup jar with a sealing lid. Add the oregano, peppercorns, coriander seeds, chili and remaining bay leaves.
Cover completely with the vinegar then gently pour in enough olive oil to cover by 3/4 inch. Seal and refrigerate for one week.
When ready to serve, remove from the marinade, place on a serving dish and garnish with lemon wedges and chopped fresh parsley.
TO CLEAN A JAR: wash the jar and lid in hot soapy water, rinse well in hot water and then dry in a very slow 250F oven for 20 minutes. Do not use a towel to dry the jar.
TO CLEAN SQUID: Grasp each squid body in one hand and the head and tentacles in the other. Pull apart to separate them. Cut the tentacles from the head by cutting below the eyes. Discard the head. Push out the beak and discard. Pull the quill from inside the body and discard. Under cold running water, pull away the skin. You can use the flaps.