The term 'PLAYED IT SAFE' can be summarized by the crossword solution 'HEDGED', which is a 6-letter word. Hedging is a risk management strategy used to reduce or offset potential losses. It involves taking a position in a related security, such as a futures contract, to protect against losses in the original position. Hedging is often used in financial markets to reduce the risk of an investment, and it can also be used in other areas, such as insurance and real estate.