Answers
There is no lock. Just remove your rig, be it a single fly or fly, shot, strike indicator, and put it back in the rod case. Never put a fly rod back in the case with the fly in the hook keeper on the rod, it WILL get snagged in the fabric in the rod tube and then you have a nice sharp hook scratching your fly rod every time you put it in or remove it from the rod case.
If you don't have a rod case, let me just say that the vast majority of rod breakages occur during transport to or from your fishing destination. A rod case costs $30 and is worth every penny.
Hope this helped.
Here's a link to a couple cases I carry.
http://www.kmdtackle.com/scientific-anglers-fly-rod-case.html
i am about to buy the okuma magnitude. reasons why i should or shouldn't???
My friend at the walmart sport desk turned me on to the Okuma Reels, and I've been very impressed with their perfomance and value, but have not tried the fly reel yet. Hope its as good as their spinners.