How to Make It
In a mortar, coarsely crush the peppercorns with the coriander and fennel seeds. Stir in the oregano.
Spoon half of the olives into a 1 1/2- or 2-pint mason jar. Top with half of the crushed seasonings and the garlic, chiles and bay leaves. Add the remaining olives and seasonings and pour in enough olive oil to cover. Let stand for 2 hours, then add more olive oil if needed to keep the olives covered.
Close the jar and let the olives marinate at room temperature for 5 days to allow the flavor to develop.