Option 2 is a 5 continent. You have to land in Asia between LHR and SYD (e.g. BKK, SIN) and that makes Asia count, so you might as well do LHR-HKG-CMB-HKG-NRT-HKG-SYD or something to use the "free" segments. Alternatively, for even more miles:
LHR-SYD-HKG-CMB-NRT-HKG-<N America>
[This message has been edited by christep (edited 01-05-2003).]