Heat the olive oil in a paella pan or wide skillet over medium heat.
Add the diced chorizo, onion, and bell pepper, sautéing until the vegetables are soft and the chorizo is lightly browned.
Stir in the minced garlic, smoked paprika, and tomato puree, cooking for 1 minute until fragrant.
Add the bomba rice and stir to coat the grains in the oils for about 1 minute.
Pour in the seafood stock and add the saffron threads, sea salt, and black pepper.
Bring the liquid to a simmer, then reduce the heat to low and cook undisturbed for 10 minutes.
Arrange the shrimp and mussels on top of the rice, pressing them down slightly into the liquid.
Cover the pan and cook for another 5-8 minutes until the shrimp are pink and the mussels have fully opened.
Sprinkle the frozen peas over the top and let the dish sit for 2 minutes to warm through.
Garnish with fresh parsley and serve immediately with a lemon wedge for squeezing.