An optical article capable of modulating the reflection of polarized monochromatic electromagnetic radiation is disclosed comprised of a reflective metal layer, means acting as a support for directing the electromagnetic radiation to the reflective metal layer, an electrooptic medium that exhibits a refractive index which is a function of an applied electrical potential, and a counter electrode. At least one of the reflective metal layer and the counter electrode taking the form of laterally spaced segments. The reflective metal layer has a thickness of less than 0.5 .mu.m, and a dielectric layer having a thickness in the range of from 0.1 to 10 times the wavelength of the electromagnetic radiation and comprised of at least one metal oxide, metal fluoride, or low molecular weight aromatic compound is coated on the support. The electrooptic medium is a polymeric layer coated on the reflective metal layer exhibiting a second order polarization susceptibility greater than 10.sup.-9 electrostatic units and comprised of polar aligned molecular dipoles having an electron donor moiety linked through a conjugated .pi. bonding system to an electron acceptor moiety. The polymeric layer exhibits a refractive index which differs from that of the dielectric layer by less than 20 percent in the absence of an applied electrical potential.