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This lens hood is supplied with the Olympus Zuiko 50-200mm but be careful not to lose it as it is quite expensive to replace: the purchase price seems high for what is essentially a cylinder of plastic with a ribbed internal surface. The hood fits securely enough with a bayonet mount that clicks into place. There are arrows on the external surface that show the correct orientation for fitting the hood in the normal and reversed positions. The hood is quite deep, almost 9cm, and makes an already long lens longer. If you wish to use a polarizer, it is impossible to adjust it with the hood in place. Its plastic construction feels insubstantial - it flexes slightly on pressure - but as the only way to test its durability would be to break it, it is difficult to say how tough it really is; certainly not as tough as aluminium.
For a lens with this narrow field of view (its focal length is equivalent to 100-400mm in 35mm terms), flare is unlikely to be a problem unless you point it almost directly at the sun, and you may be tempted to leave the hood off. I do not find the Zuiko prone to flare anyway, but tend to leave the hood on as protection for the rather exposed front element. It can be reversed for stowing the camera in its bag, though it is best not left in this position if you wish to use the camera quickly, as it covers half the zoom ring and all of the focussing ring.