Three eye movement experiments were conducted to examine the role of letter identity and letter position during reading. Before fixating on a target word within each sentence, readers were provided with a parafoveal preview that differed in the amount of useful letter identity and letter position information it provided. In Experiments 1 and 2, previews fell into 1 of 5 conditions: (a) identical to the target word, (b) a transposition of 2 internal letters, (c) a substitution of 2 internal letters, (d) a transposition of the 2 final letters, or (e) a substitution of the 2 final letters. In Experiment 3, the authors used a further set of conditions to explore the importance of external letter positions. The findings extend previous work and demonstrate that transposed-letter effects exist in silent reading. These experiments also indicate that letter identity information can be extracted from the parafovea outside of absolute letter position from the first 5 letters of the word to the right of fixation. Finally, the results support the notion that exterior letters play important roles in visual word recognition.