The Chicago Bulls are in free fall.

At this point in the season, overreaction is a fool’s errand. That was true when the Bulls were dazzling fans during a 5-0 start. And it’s just as true now after they dropped their third consecutive game Monday night, capsizing against Victor Wembanyama and the San Antonio Spurs.

Photos: Chicago Bulls lose to Victor Wembanyama and the San Antonio Spurs

The early weeks of the NBA season are fraught with hyperbole — mostly because the standings develop an overdramatic flair when fewer than a dozen games have been played. Last week the Bulls were the best team in the Eastern Conference. After Monday, they were sixth in the conference, 2½ games behind the first-place Pistons, whom they play Wednesday night in Detroit.

These wild swings are hard to track and even tougher to predict. But as the Bulls dig into the heart of the schedule, they need to find a solution — and quickly — before the rest of the East passes them by again.

The first issue is the Bulls are lacking a star. This is a two-pronged conundrum.

They haven’t had a real star since they traded away DeMar DeRozan and Zach LaVine. And while a rebuild necessitates investment in young players at the expense of star power, the Bulls severely missed the presence of an All-Star-caliber scorer during the last three fourth quarters as Giannis Antetokounmpo, Donovan Mitchell and Wembanyama romped through the Bulls defense on their way to victory.

But the Bulls also sunk into this three-game skid due in part to the absence of their centerpiece players. Josh Giddey and Coby White never have been named to an All-Star or All-NBA team (though Giddey could be on track for his first All-Star nod if he can uphold his season averages of 21.4 points, 9.6 rebounds and 9.3 assists). But both players are integral to the offensive kick of the Bulls, who lack the ability to punch back at top teams without either guard on the court.

The Bulls are already accustomed to playing without White, who hasn’t played this season because of a calf strain. But they haven’t been able to overcome the temporary blow of losing Giddey, who suffered a sprained ankle in the third quarter of Saturday’s road loss to the Cleveland Cavaliers. Giddey returned to that game but didn’t make another shot after the injury, and he sat out Monday against the Spurs.

Giddey is expected to be back in the lineup sometime this week — a return that can’t come soon enough for the Bulls. Some games will end in a shootout, and the Bulls can’t survive without the largest-caliber weapons in their arsenal.

“The best players in the league, they’re going to do what they do,” center Nikola Vučević said Monday after Wembanyama scored 18 of his 38 points in the fourth quarter. “Some games we’re going to be able to limit them, some games not as much. When they get it going, I don’t think there’s a whole lot you can do.”

But it’s not just the absence of Giddey and White. For two consecutive games, the Bulls put themselves in position to close out a win, only to allow a lead to slip away in the final five minutes. This is a frustrating trend after starting the season 4-0 in clutch situations — but the Bulls still believe in their system. The issue is the team’s vision for success hasn’t been executed properly over the last three games.

On Friday in Milwaukee, the Bulls couldn’t muster the same commitment to physicality that had lifted them through most of the season, giving up the game on the boards and failing to challenge Antetokounmpo. In Cleveland, they let themselves get rushed as the game progressed, stalling out in the half-court offense and losing their composure on the fast break.

The Bulls practiced scramble situations before Monday’s game, hoping to smooth out the disorganization when the game speeds up. They applied the adjustment quickly — the Bulls were stronger on the boards and more disciplined in the half-court against the Spurs — but they passed up too many spray-out 3-point opportunities down the stretch and lost the rhythm of their offense as a result.

Bulls guard Ayo Dosunmu walks off the court after a 121-117 loss to the Spurs on Monday, Nov. 10, 2025, at the United Center. (Armando L. Sanchez/Chicago Tribune)Bulls guard Ayo Dosunmu walks off the court after a 121-117 loss to the Spurs on Monday, Nov. 10, 2025, at the United Center. (Armando L. Sanchez/Chicago Tribune)

After all three games, Bulls players and coaches stood by their belief that the game plan offered a strong opportunity to win. But between the lines, the Bulls are struggling to maintain the commitment to defensive physicality and offensive flexibility necessary to carry out that scheme.

“It wasn’t that they weren’t trying to execute the play, but the play still wasn’t executed very well,” coach Billy Donovan said. “We’ve got to be better at that.”

The biggest problem is the Bulls can’t afford to be imperfect.

This isn’t a team designed with the luxury of a fail-safe. They can’t rely on an Antetokounmpo rumbling and tumbling through the paint or a Mitchell dodging past double teams or a Wembanyama pulling up at the top of the 3-point arc to let loose a game-winner.

The Bulls are doing almost everything right. Almost. And those final inches between good and great — whether defined by lack of star power or poor execution or sheer bad luck — will haunt them if they can’t close the gap.

“That’s the disappointing part — being in a position to win there again,” guard Kevin Huerter said. “We just couldn’t get it done.”