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Preheat the oven to 500 degrees, or as near as you can. Warm the stock in a saucepan with the saffron. Place a 10- or 12-inch skillet over medium-high heat and add the oil. One minute later, add the onion and cook, stirring occasionally, until translucent, about 5 minutes.
Add the rice, and cook, stirring occasionally, until glossy -- just a minute or two. Season liberally with salt and pepper, and add the warmed stock, taking care to avoid the rising steam. Stir in the shrimp, and transfer the pan to the oven.
Bake about 25 minutes, until all the liquid is absorbed and the rice is dry on top. Garnish, and serve immediately.