Heat oil in saucepan to 360°.
Cut squid into 1/8" rounds, and tentacles into 3/4" segments. Soak in buttermilk.
Combine flour and pepper in baking dish, and toss squid in flour to coat.
Fry for 60 seconds and drain in paper-towel lined bowl. Salt to taste and serve immediately.
If you have enough squid to require multiple batchs, make sure the oil returns to temperature in between.