Peel and devein shrimp, leaving tails intact. Butterfly shrimp. Rinse shrimp and pat dry with paper towels.
In a very large skillet over medium-high heat, combine olive oil and butter. When butter foams, add garlic and crushed red pepper. Cook until garlic is soft, but not brown, about 1 minute.
Add shrimp, placing them in the pan with cut sides opened. Cook, turning once, until shrimp are opaque, about 2 minutes per side.
Add wine, cook and stir until wine evaporates. Sprinkle with parsley and black pepper, if desired, and serve immediately.