A merchandise security device configured for use with an electronic key for locking and/or unlocking a lock mechanism is provided. The merchandise security device may include a housing operably coupled with a cable, wherein the cable is configured to be extended and retracted relative to the housing and to at least partially surround an item of merchandise. The security device may also include a lock mechanism configured to releasably secure the cable relative to the housing for locking the cable about the item of merchandise. The security device may further include a stabilizing member separate from the housing and coupled to the cable, wherein the stabilizing member is configured to be locked for securing the cable to the item of merchandise and to automatically unlock in response to tension applied to the cable.

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P1193D-PRO_Figures.pdf (1227 kB)