In a small bowl, crush the saffron threads into the seafood broth and set aside to infuse.
Heat olive oil in a small paella pan or wide skillet over medium heat.
Add the diced onion and red bell pepper, sautéing until the vegetables are softened and slightly caramelized.
Stir in the crushed tomatoes, smoked paprika, sea salt, and black pepper, cooking for 2 minutes to create a thick base (sofrito).
Add the Bomba rice to the pan, stirring for 1 minute to toast the grains and coat them in the tomato mixture.
Pour in the saffron-infused broth and stir once to distribute the rice evenly; do not stir again to allow a crust (socarrat) to form on the bottom.
Simmer uncovered for 10 minutes, then nestle the cod chunks, shrimp, and mussels into the rice.
Scatter the frozen peas over the top and continue to simmer for another 8-10 minutes until the liquid is absorbed, the seafood is cooked through, and the mussels have opened.
Remove from heat, cover with a clean kitchen towel, and let rest for 5 minutes.
Garnish with fresh parsley and serve with a lemon wedge for squeezing.