Heat the extra virgin olive oil in a paella pan or wide skillet over medium heat.
Add the sliced chorizo and cook for 2 minutes until the fat renders and the edges are crisp; remove the chorizo and set aside.
In the same pan, sauté the diced onion and red bell pepper for 4-5 minutes until softened and translucent.
Stir in the minced garlic, smoked paprika, and Bomba rice, stirring for 1 minute to toast the grains and coat them in the flavorful oil.
Crush the saffron threads into the seafood stock and pour the liquid into the pan, along with the sea salt and black pepper.
Bring to a gentle simmer and spread the rice in an even layer; do not stir from this point forward to allow the bottom crust (socarrat) to form.
After 10 minutes of simmering, nestle the shrimp, mussels, and cooked chorizo into the rice.
Scatter the frozen peas over the top and continue to cook for 5-8 minutes until the shrimp are pink, the mussels have opened, and the liquid is fully absorbed.
Remove from heat, cover with a clean kitchen towel, and let rest for 5 minutes.
Garnish with fresh lemon wedges and serve immediately.