I might be a bit confused, what is at the far end of the cable, V and DC Z ?
And when you switch on the opto coupler what is the max I you have to switch ?
Yes, as you see, you can trade off Pdiss of the R for Vz.
Your other tradeoff is where the R goes, if in series with cable that changes noise
margin, if in series with Vz and that net in parallel with coupler output, less protection
results, due to speed affected by stray C and R, and of course effective clamping Z.
Regards, Dana.