To tenderize the octopus, you need to freeze the octopus overnight before cooking. Don't skip this part.
When you're about 45 minutes away from your desired serving time, bring a large pot of salted water to a boil, add the frozen octopus, and cook until tender, about 35 minutes, depending on the size and age of the octopus. You'll want to test a piece of octopus to ensure it is cooked thoroughly. Drain the octopus and rinse it under cold running water.
Remove and discard any dark skin from the octopus. Using kitchen shears or a sharp knife, cut the octopus into bite-size pieces.
Place the octopus in a bowl, pour the oil over the top, sprinkle with hot paprika to taste, and season with salt, if desired. Mix well, ensuring the octopus is thoroughly coated. Serve immediately or transfer the octopus and oil to a heatproof bowl, cover with aluminum foil, and keep warm in an oven that's as low as it goes. Originally published July 13, 2010.