Make the sauce by melting the butter in a very small saucepan and slowly adding the white wine and a few drops of lemon juice. Let the alcohol from the wine cook off for about 1-2 minutes and then whisk in the hot sauce. As soon as the hot sauce starts to simmer, turn the flame off from under the pan.

Rinse the squid rings and drain them. Set aside until you're ready to use them. No need to pat dry. 

In a deep skillet or dutch oven, heat the oil over a high flame. You'll want the oil to reach 425°F, which will take a while, so proceed to the next step while the oil is heating.

In a large bowl, whisk together the flour, cornstarch, paprika, salt, onion powder, garlic powder, black pepper and sazon.

In a separate small bowl, create an egg wash by beating the eggs. Set them aside.

One by one, dip each of the squid rings into the egg wash, and then into the flour. Set the dredged squid rings on a plate (space them apart and don't set them on top of each other). You may need to use 2 large plates to fit them all.

Once the oil reaches 425°F, you'll want to work in small batches of about 5-6 rings at at a time.  Give the squid rings another coating of flour (don't dip them in egg again!) Shake them off gently, drop them in the oil and fry them for 1 minute or until they turn golden-orange in color.

Transfer the fried calamari to a metal cooling rack to drain the oil. Make sure to drain the calamari in a single layer.  aDon't pile the rings on top of each other!

Once you've fried all of the calamari, arrange them on a plate or serving platter and garnish with fresh cilantro, lemon wedges, sliced olives and banana peppers. Serve the sauce on the side.