Preheat oven to 375°F.

In a small measuring cup or bowl, add the wine and sprinkle in the saffron. Set aside and allow to steep until ready to use.

Season both sides of the chicken liberally with salt, pepper and smoked paprika. Place a large shallow skillet (with a tight fitting lid) over medium-high heat with the olive oil. Once hot, add in half of the chicken in a single layer. Cook until browned on both sides, about 3 to 4 minutes per side. The chicken doesn’t have to be fully cooked, we’re just looking to brown it at this point. It’ll continue to cook later on. Transfer the browned chicken to a plate and brown the rest.

Once the all the chicken has browned, add the onion and garlic to the skillet and cook until softened, about 1 to 2 minutes. Season with salt, pepper and crushed red pepper flakes. Stir in the pepper and tomato paste and cook until deep red in color, about 1 minute. Add the rice and bay leaves and cook for another minute or so to develop the rice’s flavor. Stir in the wine saffron mixture and cook until almost evaporated completely, making sure to scrape up the browned bits on the bottom of the skillet. Stir in the chicken stock and bring up to a simmer. Nestle in the chicken and sprinkle with the olives on top.

Cover and transfer to the oven to bake for 25 minutes. Carefully remove from the oven, remove the lid and sprinkle the top with the peas. Cover and allow to rest for 10 minutes before serving. Garnish with parsley and enjoy!