In a small bowl, bloom the saffron threads in 2 tablespoons of warm seafood stock and set aside.
Heat the olive oil in a wide, shallow pan over medium heat; add the sliced chorizo and cook until the fat renders and the edges are crisp.
Add the diced onion and red bell pepper to the pan, sautéing until softened and fragrant.
Stir in the minced garlic, smoked paprika, and tomato puree, cooking for 1 minute to develop the flavors.
Add the Bomba rice to the pan, stirring to coat every grain in the aromatic oil and tomato mixture.
Pour in the remaining seafood stock, the saffron-infused liquid, sea salt, and black pepper; bring to a gentle simmer.
Distribute the white fish and shrimp evenly over the rice, then reduce heat to low and cover.
Cook for 12-15 minutes without stirring, allowing the rice to absorb the liquid and the seafood to steam.
Scatter the green peas over the top during the last 2 minutes of cooking.
Remove from heat, let rest for 5 minutes, and garnish with fresh parsley and a lemon wedge before serving.