To make the stuffing, put most of the olive oil into a pan on a medium heat and add the finely diced squid trimmings. They will release a lot of water – cook until this evaporates. Add the onions with a drizzle more olive oil and a pinch of salt, and allow to caramelize until soft and golden brown. The onions will shrink down a lot – you want to end up with the same quantity of cooked onion as squid. Season with salt and pepper.
To make the ink sauce, put the 60ml of olive oil into a casserole pan on a medium-low heat. Add the onions with a pinch of salt and cook until halfway caramelized, then add the peppers and bay leaf. When everything is very soft and almost paste-like, add the tomato sauce and wine. Cook until the alcohol evaporates, then add the squid ink and stock. Cook for 20 minutes, then whiz in a blender and put back on a medium-low heat.
Fill the squid bodies with the stuffing, using a small spoon, and close each one with a toothpick. The squid bodies should be about two-thirds full, to allow for expansion when they cook.
Put 30ml of olive oil into a pan on a medium heat, then add the stuffed squid and allow to caramelize on both sides. Add the stuffed squid to the ink sauce and cook on a low heat very gently for 30–40 minutes, until the squid is soft enough to cut through with a spoon. If the sauce looks like it is reducing too much, just add a little water.
Serve the squid and sauce in a bowl, with ajillo drizzled over and bread on the side for mopping up.