Knitted lace is knit fabric with holes in it on purpose. The easiest way to make a stable hole in knitting — cutting the fabric would be an un stable hole — is to make a yarn-over. Yarn-overs and holes in general tend to be reversible by their very nature. Sweet! When working reversible lace on 1×1 ribbing, you'll need to substitute a yarn-over with a double yarn-over. The notation for that can be yo2 or yo 2 or even (yo)×2. Whatever way it is written, it means wrap the yarn not once but twice around the needle. Alternatively, you can just wrap very loosely if you prefer to wrap only once. When you come to the yarn-over hole on the next row or round, you'll need to create two stitches from it rather than one. Since the base fabric for reversible lace is 1×1 ribbing, work knit 1, purl 1 into the yarn-over hole. Interestingly, it is knit 1, purl 1 whether you are working back and forth or in the round. If you have a lace pattern that uses dramatic increases, such as k1-y...
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