
Here’s the chart showing where we are at:

Late Stage Basics
Note: the basics section is just a general overview. Depending on the M status we are in, the actual play could change.
You can smell the bubble. Note: this stage might quickly move to the bubble stage. To be in the late stage, there must be at least 5 people at the table still. If there are only 4, refer to the bubble stage rules.
Aggressive play is our style at this point. The blinds are now very big 400/200 and we’ll need to pick them up whenever possible.
Aggressive play (slightly looser than in late stage):
We are now getting involved in more pots.
Since the blinds are bigger now, we pretty much don’t limp in. Drawing hands are avoided – very few rare cases where its ok – our stack must be huge.
We are now going to have to play some coin flips – to keep from getting blinded out. It will be more common to raise all-in knowing that you probably will be called. If you think you have a coin flip, this is ok since if you win you will be in a very good spot. You have to start to racket up the playing at certain points – like when you are about to go under the 1000 chip mark.
Our image should be tight at the table. This is the stage where we need this image. Also – for the next stage. Do or Die.
For all M’s in late stage the following play is allowed: Any two cards Call (your stack is huge compared to his 10X)
Do or Die, M: 10+

Description:
You are in excellent position. If your M is 10+ and there are 5 people left, its just a matter of time before you’re on the bubble. The 4 other people are terrified of you and are probably all trying to make it to the bubble.
Since your stack is huge compared to most other peoples, make the following play as often as possible.
Any two cards Call (your stack is huge compared to his 7X): Again, you are looking to grow your stack without risking much of it.
Raising 3BB or All-in?:
Everything is ALL-in now. You won’t need to raise – just push allin.
Pre-flop Starting Hands:
Same as late M: 20+
Post-flop Play (flop,turn,river):
Same as late M: 20+
Late, M: 5-9

Description:
Very Good position to be in. Play like you are in the late 10-19 stage. You are probably the biggest stack and will be on the bubble soon.
Still look for easy opportunities to take out a small stack though.
Any two cards Call (your stack is huge compared to his 10X): Again, you are looking to grow your stack without risking much of it.
Raising 3BB or All-in?:
Allin only.
Pre-flop Starting Hands:
Same as M:20+ Late.
Post-flop Play (flop,turn,river):
Same as M: 20+ Late Rules