Playing speculative hands in tournaments requires assessing position, stack depth, and opponent tendencies. Deep stacks allow for profitable implied odds, while shorter stacks demand tighter selection. Position enhances playability, giving more control over pot size and post-flop decisions. Opponent styles dictate whether a hand can be played profitably, as tighter players provide less value than loose, aggressive ones. Balancing risk and reward ensures speculative hands contribute to long-term profitability.