I am on an F-1 OPT which expires on July 7, 2009 and have H1-B approval with my current employer. I assume I will have cap gap OPT extension between July 7 and Oct 1. I want to quit my current job after Sept 3, 2009 and want to understand the implications of quitting.

1)If I quit between Sept 3-Sept 30, how long can I stay unemployed in the US? I know there is a 90 day grace period while on the OPT, but I assume my cap gap will only extend until Sept 30? Does that mean I must find a new employer before Sept 30 and file the H-1 transfer before Oct 1? What is the latest date I can file for the H1 transfer?

2) If I quit after Oct 1, how long do I have to find another employer?

Is my only option to find another employer before quitting?