if you have excessive head space, and have an airlock sealing your wine, then you really need to top your wine off.
A carboy, for example, can "breath" (Sucking in air from the outside, or expelling headspace air on the inside) through your airlock.
This can be caused by temperature changes (warm air expands, cool air contracts). It can also be caused by changes in the weather (barametric pressure changes). In either case, the more air you have in your wine container, the more "breathing" occurs.
This is bad because it will feed your wine a steady supply of fresh oxygen. This can cause oxydation, which (as any winemaker can tell you) makes the wine undrinkable!
Fill her up, and keep her filled! Use wine (storebought even) and not water. Water will dillute the acid, alcohol, and flavor of the wine.