1. In a large pot, add oil, red peppers and onion and saute for 15-20 minutes over low heat, or until soft. Stir occasionally. Add in the shrimp, tomato sauce, half-and-half, hot sauce, Old Bay, and salt and pepper.
2. Bring to a boil and then reduce heat and simmer for 5 minutes. Add the butter and stir until melted.
3. Pour the mixture into a blender and switch it to pulse. Let it run for 15-20 seconds or until no large pieces remain.
4. Transfer the soup into bowls and sprinkle Parmesan over the soup and garnish with parsley.
Another note: If you want the soup to be thicker, I recommend a blender. If you don’t mind some shrimp chunks and a thinner broth, the stick blender works perfectly fine.