In the bullish call debit spread why is the $3.50 a risk ? Isn’t that the reward ?

Perhaps you meant a credit spread ?

If you are buying the call than the debit is your risk so it should be 1.5/3.5 = 0.42

So your risk is 0.42:1 which sounds good in theory but you are not factoring in the time decay which can make a winning trade a looser if the trade expires OTM

On the iron condor the calculation is also backwards and also missing a decimal point

While you are saying that 875 is your risk which is correct you make the calculation using the 125 as your risk and 875 as your reward which should be a good risk reward if you are only risking 0.14 to make one but you are not

You are risking 875 to make 125 so the calculation should be 875/125=7 which is not so good

Mike