In a small saucepan, warm the seafood stock and add the saffron threads to steep while you prepare the other ingredients.
Heat the olive oil in a wide skillet or paella pan over medium-high heat.
Add the sliced chorizo and cook for 2-3 minutes until the oils are released and the edges are crispy.
Add the shrimp and mussels to the pan, searing for 1 minute per side, then remove all seafood and chorizo and set aside on a plate.
In the same pan, sauté the diced onion and bell pepper until softened, about 4 minutes, then stir in the minced garlic and smoked paprika.
Add the bomba rice to the pan and stir for 1 minute to toast the grains and coat them in the aromatic oils.
Pour in the saffron-infused stock, sea salt, and black pepper; stir once to distribute the rice evenly, then do not stir again.
Simmer on medium-low for 12-15 minutes until the liquid is mostly absorbed and a slight crust (socarrat) begins to form on the bottom.
Nestle the cooked chorizo, shrimp, mussels, and frozen peas back into the rice.
Cover the pan for 2-3 minutes to allow the seafood to heat through and the mussels to fully open.
Garnish with a fresh lemon wedge and serve immediately directly from the pan.