In a large pot bring 8 cups water to a gentle boil. Add 2 tbs kosher salt, sliced lemon, bay leaf and peppercorns. Stir briefly and bring back to a simmer.

Poach shrimp

Reduce heat so liquid is at a bare simmer. Add shrimp in a single layer and cook until shrimp turn pink, curl and reach an internal temperature of 120–130°F (about 2–3 minutes for large shrimp). Do not overcook.

Shock shrimp

Prepare a large bowl with 4 cups ice and cold water. As soon as shrimp are cooked, transfer them with a slotted spoon into the ice bath to stop cooking. Chill 3–5 minutes until fully cooled.

Dry and chill

Drain shrimp well on paper towels, then refrigerate uncovered for at least 10 minutes to firm. Keep chilled until ready to serve.

Chili Cocktail Sauce

Combine ketchup, prepared horseradish, lemon juice, hot sauce, sweet chili sauce, Worcestershire sauce and smoked paprika in a medium bowl.

Whisk until smooth and taste. Season with 1 tsp salt and 1 tsp freshly ground black pepper, adjusting horseradish for heat and sweet chili for sweetness. Chill at least 20 minutes to let flavors meld.

If desired, for a thinner sauce whisk in 1–2 tbs cold water or lemon juice to reach preferred consistency.

To Serve

Fill a serving platter or individual cocktail glasses with 6 cups crushed ice to keep shrimp cold.

Arrange chilled shrimp around a small bowl or ramekin of the chili cocktail sauce. Garnish with chopped parsley and lemon wedges.

Serve immediately, letting diners squeeze lemon over shrimp and dip into the chili cocktail sauce. Leftover shrimp and sauce can be refrigerated separately for up to 2 days.