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Step 1
Up to 1 day before serving, make the batch. Pour bourbon, chilled orange-honey syrup, and water into a 2-quart pitcher and stir to mix. If not serving immediately, seal well, covering with plastic wrap if needed, and refrigerate.
Step 2
Up to 2 hours before serving, prepare lemon juice and stir into pitcher mix. Reseal and return to refrigerator if not serving immediately.
Step 3
To serve, fill pitcher with ice, add orange wheels, and stir gently until outside of pitcher is cool. Pour cocktail into ice-filled rocks glasses. Express oils from an orange twist over each cocktail, if desired, and use twist as garnish.