01 - Pat shrimp dry using paper towels, then season evenly with salt and black pepper.
02 - Heat olive oil and 1 tablespoon of butter in a large skillet over medium-high heat. Add shrimp in a single layer and sear for 1 to 2 minutes per side until pink and opaque. Remove from skillet and set aside.
03 - Reduce heat to medium. Add remaining butter, shallot, and garlic to the skillet. Cook for 1 to 2 minutes until fragrant and translucent, avoiding browning.
04 - Pour in white wine, if using, scraping the skillet to lift browned bits. Allow to reduce by half, approximately 1 minute.
05 - Add heavy cream to the skillet and bring to a gentle simmer. Stir in Parmesan cheese and red pepper flakes, cooking for 2 to 3 minutes until sauce thickens slightly.
06 - Return the shrimp to the skillet, tossing to coat them in the sauce. Simmer an additional minute until shrimp are heated through.
07 - Remove from heat, sprinkle with fresh parsley, and serve alongside lemon wedges.