Season lamb with salt and pepper and sprinkle lightly with thyme.

In a very large skillet over medium-high, heat olive oil until shimmering. Add lamb chops and garlic; cook over moderately high heat until chops are browned on the bottom, about 3 minutes.

Turn chops and garlic. Cook until chops are browned and garlic is fragrant, about 2 minutes longer for medium-rare. Transfer chops to plates, leaving garlic in skillet.

Add water, lemon juice, parsley, and crushed red pepper to pan and cook, scraping up any browned bits stuck to bottom, until sizzling, about 1 minute.

Pour garlic and pan sauce over lamb chops and serve immediately.