Heat a frying pan and gently fry the olive oil, onion, and red pepper for 4 minutes until soft.
Add the garlic, chorizo, paprika, and saffron, then fry for 3 minutes until the chorizo releases its oil.
Add the potatoes and stir to combine with the other ingredients.
Separate the squid tentacles and cut the body into bite-sized squares and the octopus into 4cm pieces.
Add the prepared squid and octopus to the pan and stir well.
Add tomatoes and fish stock, bring to a boil, then simmer for 30 minutes until tender.
Season with salt and pepper, sprinkle with parsley, and serve with bread.