Is it okay if I open this package at the stroke of midnight?
Something that you wrap is a bundle or package.
Since this word consists of a kanji with hiragana attached, you can bet that it will use the kun'yomi reading. You didn't learn that reading with this kanji, so here's a mnemonic to help you: What's better than one bundle? Two bundles. Two packages. (つつ). Two times two is つつ.