Wrapped up two points and finished (8)
I believe the answer is:
enclosed
'wrapped' is the definition.
('enclose' can be a synonym of 'wrap')
'up two points and finished' is the wordplay.
'up' says the letters should be written backwards (in down clue: letters go upwards).
'two points' becomes 'ne'.
'and' is a charade indicator (letters next to each other).
'finished' becomes 'closed' (closing is a kind of finishing**).
'ne' reversed gives 'en'.
'en'+'closed'='ENCLOSED'
(Other definitions for enclosed that I've seen before include "Confined" , "Held" , "Surrounded on all sides" , "Inserted with letter" , "Surrounded completely, caged" .)