Layer the olives, garlic, herbs, bay leaf, lemon rind, & chili flake in a 16-ounce jar (or 16-ounce airtight container of choice). Slowly pour the olive oil over top, just until the olives are submerged. Depending on the size of your olives, you may or may not need the full cup of olive oil.
Set the sealed jar in the refrigerator for at least 48 hours, or up to 1 week before serving.
Two hours before serving, remove the olives from the refrigerator to bring them to room temperature. Transfer to your favorite serving bowl.