How to Make It
Preheat the oven to 300°. Spread the pine nuts in a pie plate and toast them for about 10 minutes, until golden. Let the pine nuts cool.
In a large, deep ovenproof skillet, toss the squid with the dried chiles, garlic cloves, thyme, peppercorns and a generous pinch of salt and let stand for 10 minutes. Add the olive oil and bake for about 1 hour and 10 minutes, until the squid is very tender. Let the squid cool in the oil.
Transfer the squid to a cutting board. Cut the bodies into rings and halve the tentacles. Transfer the squid to a large bowl and toss with the toasted pine nuts and olives. Discard the oil.
In a blender, combine the parsley leaves with the cilantro stems, garlic cloves, ground coriander, black pepper, cumin and cayenne and pulse to chop the herbs. With the machine on, gradually pour in the olive oil and puree until smooth. Add the preserved lemon peel and pulse once or twice to chop. Add the chermoula to the squid, season with salt and toss to coat. Serve the squid warm or at room temperature.
The cooked squid can be refrigerated in the oil overnight. Bring to room temperature before proceeding.
Preserved lemon peel is available at specialty markets and from Amazon.com.