Eyelet Lace 09 in the round

PATTERN IN THE ROUND
Cast on a multiple of 18 stitches.
Round 1 (RS): Knit.
Round 2: Knit.
Round 3: *[K2tog] 3 times, [yo, k1] 6 times, [k2tog] 3 times, repeat from *.
Round 4: purl.
Repeat Round 1-4.
Worked flat, see Eyelet Lace 09: Old Shale stitch