The optical properties of strained‐layer ZnSe/Zn0.86Cd0.14Se single quantum wells have been studied. The photoluminescence under direct and indirect excitation is investigated in detail. The temperature dependence of photoluminescence and resonant Raman scattering are investigated. Very strong 2LO‐phonon Raman scattering has been observed with Zn0.86Cd0.14Se quantum wells, where the scattered photon energy is in resonance with an exciton transition. Experimental exciton energies are compared with a finite‐square‐potential quantum‐well model including band nonparabolicity and the strain effect. Based on Hill’s theory [J. Phys. C7, 521 (1974)] we have computed the band gap of Zn1−xCdxSe as a function of compositionx.