In a small bowl, steep the saffron threads in the seafood stock for at least 10 minutes to release their golden color and aroma.
Heat the olive oil in a wide, shallow pan over medium heat, then add the diced onion and red bell pepper, sautéing until softened.
Stir in the minced garlic, tomato puree, smoked paprika, sea salt, and black pepper, cooking for 2 minutes until the mixture darkens slightly.
Add the Bomba rice to the pan and stir for 1 minute to coat each grain with the oil and aromatics.
Pour in the saffron-infused seafood stock and bring to a boil, then reduce heat to low and simmer undisturbed for 12 minutes.
Arrange the shrimp on top of the rice, pressing them down slightly, and continue to cook for 5-7 minutes until the shrimp are pink and the liquid is absorbed.
Remove from heat, cover with a lid or foil for 5 minutes, then garnish with fresh parsley and serve with a lemon wedge.