Heat the olive oil and butter in a large skillet over medium heat.
When the butter has melted and the olive oil is shimmering, add the sliced garlic and bay leaf. Cook, stirring, for 2 minutes.
Add the shrimp to the pan and cook until the shrimp is opaque, about 5 to 7 minutes. Remove the pan from heat the and add salt, pepper, and cayenne. Toss with chopped fresh parsley and serve with lemon slices or wedges.