To store fresh or thawed squid, unwrap, place in a bowl covered with a wet paper towel, refrigerate, and prepare and eat them the same day. Store frozen squid in its original wrappings in the freezer for up to two months. To thaw, unwrap the squid, place in a bowl or pan, cover, and let thaw overnight in the refrigerator. To thaw more quickly, wrap squid in waterproof plastic and place in a sink with cool running water, allowing about 1/2 hour per pound (454g). For fastest thawing, use the defrost cycle of your microwave, allowing 2 to 5 minutes per pound (454g), with equal standing time in between zaps.