The recipe I prefer is natural and uses no lye or sugar.
Olives freshly picked from the tree contain compounds which makes the fruit much to bitter for immediate consumption. There are many ways of processing olives for table use.

Traditional methods use the natural microorganisms of the fruit and procedures which bring about fermetation of the fruit. This fermentation creates lactic acid. The result is a product which will store with or without refrigeration.
Before you get started curing olives it is best to get food grade containers, which may include plastic containers that are available at bakery suppliers.
Many bakeries also recycle food grade plastic containers which are a great size for olive fermentation; they usually 5 gallions capacity.
Olives should be selected for their firmness if green and general good condition. Olives can be used green, ripe green (which is a yellower shade of green, or green with hints of color), through to full purple black ripeness.
The olives are soaked in water to wash them, and drained. Add 2 gallions of room temperature water to the fermentation container, and 28 ounces of sea salt, and one cup of white vinegar (white wine or cider vinegar). The salt is dissolved to create a 10% solution.
Each olive is given a single deep slit with a small knife (if small), or up to three slits per fruit. Add 20 pounds of olives are added to the salt solution.
The olives are weighed down with an object such as a plate so they are fully immersed and lightly sealed in their container. The olives can be tasted at any time.
The olives are edible within 2 weeks to a month, but can be left to cure for up to nine months.
I like to flavor olives soaking them in various spices and herbs, or removing the pit and stuffing them. I like chili pepper stuffed olives, pimento stuffed olives, cheese stuffed olives, garlic stuffed olives and anchovie stuffed olives to name a few.