Combine the saffron and lemon juice in a small bowl and crush the threads with the back of a spoon until the mixture turns bright yellow. Let sit for 5 minutes.
Toss the shrimp with 1 teaspoon of the smoked paprika, 1 teaspoon salt and 1/2 teaspoon pepper. Set aside.
Heat the olive oil in a Dutch oven over medium-high heat. When hot, add the roasted peppers, onion, parsley and bay leaf. Saute until the onion is translucent, 5 to 8 minutes. Add the garlic, cumin and the remaining 1 teaspoon smoked paprika; saute until fragrant, 30 seconds. Add the rice and toast until slightly browned, 2 to 3 minutes.
Pour in the wine, scrapping up any browned bits from the bottom of the pan. Cook, stirring, until the wine is fully absorbed. Pour in the tomatoes, stock, saffron mixture, 1 teaspoon salt and 1/2 teaspoon pepper; stir until combined. Bring to a simmer, then nestle the clams into the rice. Cover and let simmer for 5 minutes. Add the mussels, shrimp and lobster. Cover and transfer to the oven for 25 to 30 minutes, until the clams and mussels are opened.
Place the pot back on the stovetop over medium-high heat. Add the peas. Cook until the bottom of the rice forms a crust, about 5 minutes. Serve the paella with lemon wedges.
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