Gather all ingredients.
Combine water, sugar, and cinnamon stick in a saucepan; bring to a boil. Reduce heat to low.
Cut one orange in half; squeeze orange halves over the sugar mixture to release their juice. Push 5 cloves into the outside of each orange peel; place peels into the simmering mixture. Continue to simmer over the lowest heat until thick and syrupy, 20 to 30 minutes.
While mixture is simmering, slice remaining orange and set aside for serving.
When mixture is finished simmering, stir in wine and heat until steaming but not simmering, 3 to 5 minutes. Discard orange peels and cinnamon stick.
Ladle into mugs and garnish with orange slices.
