OPT STEM EXT. WHILE H-1 APPLICATION IS PENDING

[tareddy0523]

Hi,
I am a F1 student. I am currently in Initial 12 months OPT. It is valid up to July 4th, 2014.
My employer has applied for H1-B 2015 and it has picked up in lottery and it is in processing. I am planning to apply for 17 month OPT-STEM-Extension now. My questions are

1) Is it fine to apply for OPT-STEM-EXTENSION while H-1B is in processing?
2) If i apply for STEM extension does it affect my H-1 B processing.
3) My employer applied my H-1 in Masters quota in regular processing. I have requested my employer to upgrade to Premium processing. Even though i will request for premium, i am worrying that if i get any RFE which may take more time so that it may pass my opt expiry date.
4) I am interested in OPT-Stem-extension instead of CAP-GAP. So Please advice and give time lines.

 

 

Thanks inadvance