To store thawed octopus, unwrap, place in a bowl covered with a wet paper towel, refrigerate, and prepare it to be eaten the same day. Store frozen octopus in its original wrappings in the freezer for up to two months. To thaw, unwrap, place octopus in a bowl or pan, cover, and let thaw overnight in the refrigerator. To thaw more quickly, wrap octopus in waterproof plastic and place in a sink with cool running water, allowing about 30 minutes per pound (about 450g). For fastest thawing, use the defrost cycle of your microwave, allowing two to five minutes per pound (450g), with equal standing time in between zaps.