Combine ketchup, prepared horseradish, lemon juice, and Worcestershire sauce in a medium bowl. Whisk for about 30 seconds—you're not making it fluffy, just combining. This is where I always pause and taste, because horseradish strength varies wildly between brands. Adjust lemon juice if it tastes flat.
Stir in honey and ground black pepper until the mixture smells balanced. The honey mellows the horseradish bite, so don't skip this step. This is the moment the sauce transforms from one-note spicy to actually complex.
Fold in the olive oil slowly while whisking gently. Why olive oil instead of mayo? Because it won't separate or curdle when sitting at room temperature during your party. This single swap keeps your shrimp cocktail party crowd recipe looking pristine hours in.
Add your cooked shrimp to the bowl and toss gently with a rubber spatula—no aggressive stirring here. I learned this the hard way when I ripped shrimp apart trying to coat them evenly. Handle them like they're delicate, because they genuinely are once cooked.
Taste and add sea salt by the pinch until it tastes like the ocean smells. Most people under-salt seafood appetizers, which is why they taste flat. Trust yourself to season properly.
Chop your fresh cilantro and parsley together (mixing them prevents one herb from dominating), then fold into the bowl in the final 10 minutes before serving. Adding them too early bruises the leaves and turns them dark.
Finish with lemon zest scattered across the top for brightness and visual texture. Zest appears right before serving, not mixed in, so guests see it and know it's fresh.