Eyelet Lace 46 in the round

PATTERN IN THE ROUND
Cast on a multiple of 6 sts.
Round 1: Knit.
Round 2: Knit.
Round 3: Knit.
Round 4: *Yo, p1, p3tog, p1, yo, k1, repeat from *.
Repeat rounds 1-4.
Worked flat, see Eyelet Lace 46: Tiny Shell stitch