Heat the extra virgin olive oil in a paella pan or wide skillet over medium heat.
Sauté the diced yellow onion and red bell pepper until they are softened and slightly caramelized.
Stir in the minced garlic, smoked paprika, and tomato puree, cooking for 2 minutes until the mixture deepens in color.
Add the Bomba rice to the pan and stir for 1 minute to toast the grains and coat them in the aromatic base.
Pour in the seafood stock and add the saffron threads, sea salt, and black pepper.
Bring the liquid to a gentle simmer, then reduce the heat to low and cook undisturbed for 10 minutes.
Nestle the shrimp, mussels, and squid rings into the rice across the pan.
Cover the pan and cook for another 8 to 10 minutes until the seafood is opaque and the rice has absorbed the liquid.
Scatter the frozen peas over the top during the final 2 minutes of cooking to warm them through.
Garnish the paella with freshly chopped parsley and serve with a lemon wedge for a bright, acidic finish.