Heat the olive oil in a Dutch oven over medium-high heat. Add onion and garlic, and sauté for 5 minutes or until lightly browned. Add tomatoes, 1/2 cup olives, water, 2 tablespoons capers, 2 tablespoons jalapeños, parsley, oregano, and bay leaves. Bring to a boil; reduce heat, and simmer 30 minutes or until reduced to 6 cups. Stir in 1/2 teaspoon salt. Discard bay leaves.
Arrange fish in a single layer in a 13 x 9-inch baking dish; drizzle with lime juice, and sprinkle with 1/2 teaspoon salt. Cover and marinate in refrigerator 30 minutes; discard marinade.
Preheat oven to 350°.
Spoon sauce over fish. Bake at 350° for 15 minutes or until fish flakes easily when tested with a fork. Sprinkle with 1/2 cup olives, 2 tablespoons capers, and 2 tablespoons jalapeños. Garnish with parsley sprigs, if desired.