How can I regularly move movies in iTunes to an external drive? I have been adding a lot of movies to iTunes lately. Problem is, the size grows very quickly. I appreciate having the metadata in one place, but I would want to move the actual files to an external drive. Preferably, I'd be able to have unwatched movies on the main drive and move them to external drive once they have been watched. The link to iTunes must be kept, and metadata kept, as is.

I have my folders organized by iTunes, and I know the trick to "Hold Command and Option keys and drag the file(s) to the main iTunes window". For this case however, I want to add movies as normal and just change the internal pointer to an external drive, probably through a script. Anyone know if it's possible or any other workarounds (e.g. symlinks).
If your external drive is permanently connected to your Mac I suggest cutting and pasting your entire iTunes library (called "iTunes Media") over to the external drive, and then point iTunes to it through Preferences > Advanced > iTunes Media folder location. Now all your data would be stored on that external drive, while still easily accessible via iTunes.