diff --git a/charts/opentelemetry-operator/Chart.yaml b/charts/opentelemetry-operator/Chart.yaml
index b774c9567..013ab9863 100644
--- a/charts/opentelemetry-operator/Chart.yaml
+++ b/charts/opentelemetry-operator/Chart.yaml
@@ -1,6 +1,6 @@
 apiVersion: v2
 name: opentelemetry-operator
-version: 0.49.1
+version: 0.50.0
 description: OpenTelemetry Operator Helm chart for Kubernetes
 type: application
 home: https://opentelemetry.io/
diff --git a/charts/opentelemetry-operator/UPGRADING.md b/charts/opentelemetry-operator/UPGRADING.md
index bc1a40550..f55dca76c 100644
--- a/charts/opentelemetry-operator/UPGRADING.md
+++ b/charts/opentelemetry-operator/UPGRADING.md
@@ -1,5 +1,10 @@
 # Upgrade guidelines
 
+## <0.50.0 to 0.50.0
+
+Additional properties are not allowed anymore, so care must be taken that no old or misspelled ones are present anymore.
+`helm show values open-telemetry/opentelemetry-operator --version 0.50.0` can be used to list the allowed values.
+
 ## <0.42.3 to 0.42.3
 
 A type of flag `autoGenerateCert` has been changed, now it is an object with two attributes `enabled` and `recreate`.
diff --git a/charts/opentelemetry-operator/examples/default/rendered/admission-webhooks/operator-webhook-with-cert-manager.yaml b/charts/opentelemetry-operator/examples/default/rendered/admission-webhooks/operator-webhook-with-cert-manager.yaml
index 0086f2d30..9796bd445 100644
--- a/charts/opentelemetry-operator/examples/default/rendered/admission-webhooks/operator-webhook-with-cert-manager.yaml
+++ b/charts/opentelemetry-operator/examples/default/rendered/admission-webhooks/operator-webhook-with-cert-manager.yaml
@@ -6,7 +6,7 @@ metadata:
   annotations:
     cert-manager.io/inject-ca-from: default/example-opentelemetry-operator-serving-cert
   labels:
-    helm.sh/chart: opentelemetry-operator-0.49.1
+    helm.sh/chart: opentelemetry-operator-0.50.0
     app.kubernetes.io/name: opentelemetry-operator
     app.kubernetes.io/version: "0.95.0"
     app.kubernetes.io/managed-by: Helm
@@ -91,7 +91,7 @@ metadata:
   annotations:
     cert-manager.io/inject-ca-from: default/example-opentelemetry-operator-serving-cert
   labels:
-    helm.sh/chart: opentelemetry-operator-0.49.1
+    helm.sh/chart: opentelemetry-operator-0.50.0
     app.kubernetes.io/name: opentelemetry-operator
     app.kubernetes.io/version: "0.95.0"
     app.kubernetes.io/managed-by: Helm
diff --git a/charts/opentelemetry-operator/examples/default/rendered/certmanager.yaml b/charts/opentelemetry-operator/examples/default/rendered/certmanager.yaml
index 600ed11b7..b0eb82cb2 100644
--- a/charts/opentelemetry-operator/examples/default/rendered/certmanager.yaml
+++ b/charts/opentelemetry-operator/examples/default/rendered/certmanager.yaml
@@ -4,7 +4,7 @@ apiVersion: cert-manager.io/v1
 kind: Certificate
 metadata:
   labels:
-    helm.sh/chart: opentelemetry-operator-0.49.1
+    helm.sh/chart: opentelemetry-operator-0.50.0
     app.kubernetes.io/name: opentelemetry-operator
     app.kubernetes.io/version: "0.95.0"
     app.kubernetes.io/managed-by: Helm
@@ -29,7 +29,7 @@ apiVersion: cert-manager.io/v1
 kind: Issuer
 metadata:
   labels:
-    helm.sh/chart: opentelemetry-operator-0.49.1
+    helm.sh/chart: opentelemetry-operator-0.50.0
     app.kubernetes.io/name: opentelemetry-operator
     app.kubernetes.io/version: "0.95.0"
     app.kubernetes.io/managed-by: Helm
diff --git a/charts/opentelemetry-operator/examples/default/rendered/clusterrole.yaml b/charts/opentelemetry-operator/examples/default/rendered/clusterrole.yaml
index 987a1477d..44a4268d6 100644
--- a/charts/opentelemetry-operator/examples/default/rendered/clusterrole.yaml
+++ b/charts/opentelemetry-operator/examples/default/rendered/clusterrole.yaml
@@ -4,7 +4,7 @@ apiVersion: rbac.authorization.k8s.io/v1
 kind: ClusterRole
 metadata:
   labels:
-    helm.sh/chart: opentelemetry-operator-0.49.1
+    helm.sh/chart: opentelemetry-operator-0.50.0
     app.kubernetes.io/name: opentelemetry-operator
     app.kubernetes.io/version: "0.95.0"
     app.kubernetes.io/managed-by: Helm
@@ -213,7 +213,7 @@ apiVersion: rbac.authorization.k8s.io/v1
 kind: ClusterRole
 metadata:
   labels:
-    helm.sh/chart: opentelemetry-operator-0.49.1
+    helm.sh/chart: opentelemetry-operator-0.50.0
     app.kubernetes.io/name: opentelemetry-operator
     app.kubernetes.io/version: "0.95.0"
     app.kubernetes.io/managed-by: Helm
@@ -231,7 +231,7 @@ apiVersion: rbac.authorization.k8s.io/v1
 kind: ClusterRole
 metadata:
   labels:
-    helm.sh/chart: opentelemetry-operator-0.49.1
+    helm.sh/chart: opentelemetry-operator-0.50.0
     app.kubernetes.io/name: opentelemetry-operator
     app.kubernetes.io/version: "0.95.0"
     app.kubernetes.io/managed-by: Helm
diff --git a/charts/opentelemetry-operator/examples/default/rendered/clusterrolebinding.yaml b/charts/opentelemetry-operator/examples/default/rendered/clusterrolebinding.yaml
index 8b9f1667d..0f1c5efa3 100644
--- a/charts/opentelemetry-operator/examples/default/rendered/clusterrolebinding.yaml
+++ b/charts/opentelemetry-operator/examples/default/rendered/clusterrolebinding.yaml
@@ -4,7 +4,7 @@ apiVersion: rbac.authorization.k8s.io/v1
 kind: ClusterRoleBinding
 metadata:
   labels:
-    helm.sh/chart: opentelemetry-operator-0.49.1
+    helm.sh/chart: opentelemetry-operator-0.50.0
     app.kubernetes.io/name: opentelemetry-operator
     app.kubernetes.io/version: "0.95.0"
     app.kubernetes.io/managed-by: Helm
@@ -25,7 +25,7 @@ apiVersion: rbac.authorization.k8s.io/v1
 kind: ClusterRoleBinding
 metadata:
   labels:
-    helm.sh/chart: opentelemetry-operator-0.49.1
+    helm.sh/chart: opentelemetry-operator-0.50.0
     app.kubernetes.io/name: opentelemetry-operator
     app.kubernetes.io/version: "0.95.0"
     app.kubernetes.io/managed-by: Helm
diff --git a/charts/opentelemetry-operator/examples/default/rendered/deployment.yaml b/charts/opentelemetry-operator/examples/default/rendered/deployment.yaml
index 583f4956d..ac79cb8bc 100644
--- a/charts/opentelemetry-operator/examples/default/rendered/deployment.yaml
+++ b/charts/opentelemetry-operator/examples/default/rendered/deployment.yaml
@@ -4,7 +4,7 @@ apiVersion: apps/v1
 kind: Deployment
 metadata:
   labels:
-    helm.sh/chart: opentelemetry-operator-0.49.1
+    helm.sh/chart: opentelemetry-operator-0.50.0
     app.kubernetes.io/name: opentelemetry-operator
     app.kubernetes.io/version: "0.95.0"
     app.kubernetes.io/managed-by: Helm
diff --git a/charts/opentelemetry-operator/examples/default/rendered/role.yaml b/charts/opentelemetry-operator/examples/default/rendered/role.yaml
index 7a3dc0dd8..c74f760fe 100644
--- a/charts/opentelemetry-operator/examples/default/rendered/role.yaml
+++ b/charts/opentelemetry-operator/examples/default/rendered/role.yaml
@@ -4,7 +4,7 @@ apiVersion: rbac.authorization.k8s.io/v1
 kind: Role
 metadata:
   labels:
-    helm.sh/chart: opentelemetry-operator-0.49.1
+    helm.sh/chart: opentelemetry-operator-0.50.0
     app.kubernetes.io/name: opentelemetry-operator
     app.kubernetes.io/version: "0.95.0"
     app.kubernetes.io/managed-by: Helm
diff --git a/charts/opentelemetry-operator/examples/default/rendered/rolebinding.yaml b/charts/opentelemetry-operator/examples/default/rendered/rolebinding.yaml
index fccdd1c18..e99b7a794 100644
--- a/charts/opentelemetry-operator/examples/default/rendered/rolebinding.yaml
+++ b/charts/opentelemetry-operator/examples/default/rendered/rolebinding.yaml
@@ -4,7 +4,7 @@ apiVersion: rbac.authorization.k8s.io/v1
 kind: RoleBinding
 metadata:
   labels:
-    helm.sh/chart: opentelemetry-operator-0.49.1
+    helm.sh/chart: opentelemetry-operator-0.50.0
     app.kubernetes.io/name: opentelemetry-operator
     app.kubernetes.io/version: "0.95.0"
     app.kubernetes.io/managed-by: Helm
diff --git a/charts/opentelemetry-operator/examples/default/rendered/service.yaml b/charts/opentelemetry-operator/examples/default/rendered/service.yaml
index a7d95887d..1c0f62e96 100644
--- a/charts/opentelemetry-operator/examples/default/rendered/service.yaml
+++ b/charts/opentelemetry-operator/examples/default/rendered/service.yaml
@@ -4,7 +4,7 @@ apiVersion: v1
 kind: Service
 metadata:
   labels:
-    helm.sh/chart: opentelemetry-operator-0.49.1
+    helm.sh/chart: opentelemetry-operator-0.50.0
     app.kubernetes.io/name: opentelemetry-operator
     app.kubernetes.io/version: "0.95.0"
     app.kubernetes.io/managed-by: Helm
@@ -31,7 +31,7 @@ apiVersion: v1
 kind: Service
 metadata:
   labels:
-    helm.sh/chart: opentelemetry-operator-0.49.1
+    helm.sh/chart: opentelemetry-operator-0.50.0
     app.kubernetes.io/name: opentelemetry-operator
     app.kubernetes.io/version: "0.95.0"
     app.kubernetes.io/managed-by: Helm
diff --git a/charts/opentelemetry-operator/examples/default/rendered/serviceaccount.yaml b/charts/opentelemetry-operator/examples/default/rendered/serviceaccount.yaml
index 7d47d4d91..edd6b6eea 100644
--- a/charts/opentelemetry-operator/examples/default/rendered/serviceaccount.yaml
+++ b/charts/opentelemetry-operator/examples/default/rendered/serviceaccount.yaml
@@ -6,7 +6,7 @@ metadata:
   name: opentelemetry-operator
   namespace: default
   labels:
-    helm.sh/chart: opentelemetry-operator-0.49.1
+    helm.sh/chart: opentelemetry-operator-0.50.0
     app.kubernetes.io/name: opentelemetry-operator
     app.kubernetes.io/version: "0.95.0"
     app.kubernetes.io/managed-by: Helm
diff --git a/charts/opentelemetry-operator/examples/default/rendered/tests/test-certmanager-connection.yaml b/charts/opentelemetry-operator/examples/default/rendered/tests/test-certmanager-connection.yaml
index adb838631..c4196297d 100644
--- a/charts/opentelemetry-operator/examples/default/rendered/tests/test-certmanager-connection.yaml
+++ b/charts/opentelemetry-operator/examples/default/rendered/tests/test-certmanager-connection.yaml
@@ -6,7 +6,7 @@ metadata:
   name: "example-opentelemetry-operator-cert-manager"
   namespace: default
   labels:
-    helm.sh/chart: opentelemetry-operator-0.49.1
+    helm.sh/chart: opentelemetry-operator-0.50.0
     app.kubernetes.io/name: opentelemetry-operator
     app.kubernetes.io/version: "0.95.0"
     app.kubernetes.io/managed-by: Helm
diff --git a/charts/opentelemetry-operator/examples/default/rendered/tests/test-service-connection.yaml b/charts/opentelemetry-operator/examples/default/rendered/tests/test-service-connection.yaml
index e5972e670..5852d6ed7 100644
--- a/charts/opentelemetry-operator/examples/default/rendered/tests/test-service-connection.yaml
+++ b/charts/opentelemetry-operator/examples/default/rendered/tests/test-service-connection.yaml
@@ -6,7 +6,7 @@ metadata:
   name: "example-opentelemetry-operator-metrics"
   namespace: default
   labels:
-    helm.sh/chart: opentelemetry-operator-0.49.1
+    helm.sh/chart: opentelemetry-operator-0.50.0
     app.kubernetes.io/name: opentelemetry-operator
     app.kubernetes.io/version: "0.95.0"
     app.kubernetes.io/managed-by: Helm
@@ -43,7 +43,7 @@ metadata:
   name: "example-opentelemetry-operator-webhook"
   namespace: default
   labels:
-    helm.sh/chart: opentelemetry-operator-0.49.1
+    helm.sh/chart: opentelemetry-operator-0.50.0
     app.kubernetes.io/name: opentelemetry-operator
     app.kubernetes.io/version: "0.95.0"
     app.kubernetes.io/managed-by: Helm