Gather all the ingredients.
Prepare the Saffron: In a small bowl, soak the saffron threads in 2 tablespoons of warm water and set aside.
Prepare the Tomatoes: Grate Roma tomatoes to create a puree.
Cook the Seafood: Heat extra virgin olive oil over medium heat in a pan. Add the calamari and stir-fry for 2-3 minutes, adding salt and pepper to taste. Cook until the calamari turns opaque white. Remove from the pan and set aside.
Cook the Base: Add more olive oil to the same pan. Add the minced garlic and diced onion. Cook until the onion becomes semi-translucent, about 3 minutes.
Add smoked paprika and stir for 2-3 minutes until the onions are fully cooked.
Add the pureed Roma tomatoes to the pan and cook for another 2-3 minutes, stirring occasionally.
Add the previously cooked calamari back to the pan and cook for another 2-3 minutes, stirring occasionally.
Pour in the seafood stock and season with salt and pepper.
Stir in the bomba rice and saffron with its soaking water. Bring to a boil, then reduce the heat to low. Let it simmer, uncovered, for about 15 minutes. Do not stir the rice during this time.
Arrange the shrimp on top of the rice. Press them down slightly into the liquid. Continue to cook for another 5 minutes, then turn the shrimp to the other side and cook for another 2 minutes.
Add Italian parsley, then cover the pan and let it cook for 5-10 minutes.
Finish and Serve: Once the paella is done, remove it from the heat. Sprinkle some Italian parsley and let it rest for a few minutes before serving.