Step 1

In a punch bowl or pitcher, combine the amaro, sweet vermouth, and bitters. Working one by one, hold the lemon peels by their long edges with the peel facing down into the bowl. Pinch the peel to express the citrus oils and drop the peel into the bowl. Serve in ice-filled punch or lowball glasses and top each drink with sparkling water just before serving.

Step 2

In an ice-filled punch or lowball glass, combine the amaro, sweet vermouth, and bitters. Top with sparkling water. Hold the lemon peel by its long edges with the peel facing down into the glass. Pinch the peel to express the citrus oils, drop the peel into the glass, and serve.