correct. That is the strategy part of F1, since other than having to use both soft and hard tires at one point in the race (except if there is rain), the number of stops is up to the team. Teams have to decide if the advantage of having fresher tires is worth an extra pit stop or not. There are also a limited number of sets of tires than can be used in a weekend.
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Hot: 2001 Estoril M Roadster
ZCP 19's michelin supersports, ZHP knob, JL 8W3
Cold: 2002 TiAg M3 6mt deoranged, dechromed, led tails, ZHP knob, UUC SS v3, GROM, OEM 18's w310's,
Fun: 2006 YZF-R6, black, ohlins, pazzo, cat delete, vance hines csone, YEC racing tune