In a food processor, combine the mayonnaise, anchovies, lemon juice, parsley an d cayenne. Blend until smooth. Transfer the sauce to a bowl and refrigerate, co vered tightly, for up to 2 days, until ready to serve.

Cut the squid into 1/3-inch rings. If the tentacles are large, halve or quarter them lengthwise. Refrigerate until ready to use.

In a heavy bottomed straight sided 3 quart saucepan, about 8 inches in diameter , heat the oil to 360 degrees.

In a shallow bowl, combine the flour and graham cracker crumbs. Toss 1/3 of the squid in the flour mixture to coat evenly. Shake the squid in a mesh strainer to shed extra coating. Using tongs or a slotted spoon, gently lower each batch of calamari into the hot oil and fry until golden brown, about 2 minutes. Remove with a slotted spoon and drain on paper towels. Sprinkle with salt. The cooked squid can be ke pt warm in a low oven while you continue. Check your oil temperature and repeat with remaining c alamari. Serve hot with chilled anchovy mayonnaise.

(Adapted from a recipe in the Union Square Cafe Cookbook, by Michael Romano & D anny Meyer)