Early levels: preserve options
Deep stacks leave room for decisions on later streets. A one-pair hand may be strong enough for a small pot yet fragile when several players commit many blinds.
With 20,000 chips at 100/200, you have 100 big blinds. At 1,000/2,000 the same stack is 10 big blinds. Raw chips alone hide the change.
Middle levels: measure the cost of waiting
When blinds and antes grow, folding every marginal spot also costs chips. Consider who can call an open, which stacks can pressure yours, and whether position permits a profitable steal. Short stacks have fewer postflop options.
Bubble and final table: account for payouts
Near a payout threshold, losing a stack can cost more prize equity than gaining the same number of chips adds. ICM models this relationship using stacks and prizes; it does not guarantee a specific outcome.
A medium stack confronting a covering stack on the bubble may need a stronger calling range than in the same chip situation far from the money. The exact answer depends on all remaining stacks and the published payouts.
Check the format
A Sit & Go begins when its required field fills; an MTT spans multiple tables. Re-entry, bounty, satellite, and blind-speed rules alter incentives. Check the event structure before transferring a strategy from another format.