Overcut
An overcut is staying out longer than a rival who has pitted, using clear air to lap fast enough to come out ahead when you finally stop.
The mirror image of the undercut, and it works in the opposite conditions: where tyres take time to reach their window, or where the car behind was being held up in dirty air and suddenly has open track.
Circuits with a long pit lane and gentle tyre wear favour it. So does a hot day when a fresh tyre needs a lap or two before it gives its best.