Recently there has been growing interest in sensing by means of optical microring resonators in photonic integrated circuits that are fabricated in silicon-on-insulator (SOI) technology. Taillaert et al. [Proc. SPIE6619, 661914 (2007)PSISDG0277-786X10.1117/12.738412] proposed the use of a silicon-waveguide-based ring resonator as a strain gauge. However, the strong lateral confinement of the light in SOI waveguides and its corresponding modal dispersion where not taken into account. We present a theoretical understanding, as well as experimental results, of strain applied on waveguide-based microresonators, and find that the following effects play important roles: elongation of the racetrack length, modal dispersion of the waveguide, and the strain-induced change in effective refractive index.