Slice the chorizo into 1 inch coins. Add to a large pot along with olive oil and sauté for 5 minutes, stirring frequently, or until they begin to brown.
Add in the onions and garlic and cook for 2 minutes.
Stir in the fresh and canned tomatoes, black pepper, thyme, and parsley.
Add the red wine and stir until well combined.
Add in hot pepper flakes and water and bring to a boil. Reduce to low heat and simmer, uncovered, for 60 minutes, topping off with water as needed.
Serve hot over top of rice, couscous, or potatoes.