Most of the time with a normal shape (not torpedo,etc.) cigar, I try to cut as little as possible, but always below the cap line (I like a larger whole than a lot of punches give -but punch is a good way to keep your cap in tact). About 75% of the time when I accidentally or by necessity cut the whole cap off, the wrapper unravels on me at least a little - enought to piss me off (and as I've already mentioned - it is unacceptable for a cigar to piss you off). Some cigars (often larger ones) will have a double or triple cap and it's hard to cut the whole thing off. These are good if you need to open it up for a better draw or if you want to chomp on it without it unraveling.