This recipe requires some technique, but when it comes to the ingredient list, it is blissfully short. It’s a reminder that a few good ingredients treated carefully and with respect can combine into a truly great dish.
Using a mandolin, slice the bulbs thinly into a bowl of ice water. Using a paring knife, peel away the rind and pith from the orange. Working over a bowl, with a paring knife, slice in between the membranes and remove the orange segments.* Set aside and reserve the juice.
Drain the fennel from the ice water and dry on paper towels (or in a salad spinner). Place the fennel in a mixing bowl and dress with the reserved orange juice, orange segments, extra-virgin olive oil, and olives. Season with salt and pepper, to taste. Gently toss and serve on a chilled plate.
Garnish with reserved fennel fronds.