Location of Rented iTunes Movies

Hi All.
When one rents a movie from iTunes, where exactly is this movie stored until it expires and deletes itself? My desire is to have iTunes store to my ext hdd to avoid fragmenting my internal hdd until the movies deletes itself since it is such a large file and is only temporary. How would I configure my iTunes library to store the movies on my ext hdd to eliminate any internal hdd issues downloading and auto deleting these movies may cause over time? Thanks.

All of your iTunes Media is usually held in the ~/Music/iTunes folder. See here for more details. You, however, cannot move specific things to different folders, only the entire media folder.

Once you do rent a movie, you should be able to click on it and then hit CMD+i to get more info and the Summary tab should give you the full path to where that movie resides..

Unless things have changed, iTunes just uses QuickTime to play its media so could you not move the file elsewhere and then simply play it through QT (which should be able to play the DRM'ed file)?

I KNEW someone would have an answer!! Thanks guys. I read the link Ashwin provided and I will reread it at home and give those a try to to learn more about iTunes...I'm currently on work PC.
Vansmith, I asked about where iTunes movie rentals are stored because I wondered where it would place such a large temporary file (I always get the HD version) and then autodelete it after viewing. I am anal about fragmenting a hdd and I like to run a tight, clean, tidy computer. I guess it is still the old Windows mentality even after 3 years on a Mac. I just thought I would kind of explain why I was asking to begin with. Thanks again to you both.