We have used the variable stripe technique and pump-probe spectroscopy to investigate both gain and the dynamics of amplified spontaneous emission from CdSe quantum dot structures. We have found modal gain coefficients of 75 and 32 cm-1 for asymmetric and symmetric waveguide structures, respectively. Amplified spontaneous emission decay times of 150 and 300 ps and carrier capture times of 15 and 40 ps were measured for the structures with high and low material gains respectively. The difference in the capture times are related to the fact that for the symmetric waveguide, carriers diffuse into the active region from the uppermost ZnMgSSe cladding layer, yielding a longer rise time for the pump-probe signals for this sample.