Our Iberian take on the classic aperitif swaps out gin for sherry, so it's less boozy but just as bright -- and can be made in a batch before your gathering. We like to use a light, crisp manzanilla or fino sherry for this recipe.
In a large, resealable bottle, combine sherry, both vermouths, and Campari. Stir to combine; chill at least 30 minutes and up to 1 day. To serve, pour over ice and garnish with orange peel and Spanish olives.