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From "Salt Water Sportsman", April 2000, p. 90:
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Fluke Between the Forks by Capt. Nick Karas
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... A few years ago, I began surveying the charter skippers, party boat captains, and the better sports fisherman who annually fish for fluke at "The Greenlawns," a section of North Channel [on the eastern end of Long Island, NY] famous for its big fish. Almost to a man, they agreed that the best bait was large squid.
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Based on that information, I began developing a special rig that could be used to fish a squid with a body length of five to six inches. A year ago, I sent a drawing of my proposed rig to Dick Wolfe of the well-known Sea Wolfe Tackle in New Hampshire. Dick said my rig looked good, and built several for me. ...
[from inset] The Spin-N-Glo rig I designed with the help of Dick Wolfe consists of two parts. The foresection consists of a 5 1/2-inch length of plastic-coated braided wire with a crimped loop on one end and a snap swivel on the other. Threaded on the wire are two red beads and a large Spin-N-Glo spinner. The second section features the same braided wire, and has crimped loops on both ends. Threaded on the wire are two large red beads on either side of a torpedo-shaped cork float. A 6/0 O'Shaughnessy hook is attached to the rear loop.
To rig up, cut a ten-inch piece of heavy single-stand wire and bend one end into a loop, closing it as tightly as possible to form a point. This will serve as a rigging needle. Run the point of the wire loop through the tentacle end of the squid and out through the tip of the mantle. Attach the front loop of the rear section of the rig (the one with the float) to the wire and gently work the float into the cavity of the squid's body. The front end of the rear section should just clear the body.
The float should fit snuggly inside the squid's body. However, there should be enough play in the body to be able to thread the hook between the squid's eyes and pull it back out. When completed, the hook should be almost covered by the tentacles.
The float serves three important functions: (1) It keeps the squid's body full and natural looking; (2) its buoyancy keep the hook off the bottom and reduces the chances of snagging; and (3) it keeps the squid above the reach of all but the largest spider crabs.
The squid rig is fished on the bottom, off a three-way swivel. The rig is tied to a four-foot length of 20-pound mono, which in turn is tied to one eye of the swivel. From a second eye, a 12-inch piece of ten-pound mono is tied with a fixed loop in the free end. A bank sinker from three to eight ounces, depending upon the speed of the drift, is attached to the loop to keep the rig on or near the bottom.