The performance of strained silicon devices based on the deposition of a top silicon nitride layer with high stress have been thoroughly analyzed by means of simulations and experimental results. Results clearly indicate that the electro-optic static response is basically governed by carrier effects. A first evidence is the appearance of a variable optical absorption with the applied voltage that should not occur in case of having a purely electro-optic Pockels effect. However, hysteresis and saturation effects are also observed. We demonstrate that such effects are mainly due to the carrier trapping dynamics at the interface between the silicon and the silicon nitride and their influence on the silicon nitride charge. This theory is further confirmed by analyzing identical devices but with the silicon nitride cladding layer optimized to have intrinsic stresses of opposite sign and magnitude. The latter is achieved by a post annealing process which produces a defect healing and consequently a reduction of the silicon nitride charge. Raman measurements are also carried out to confirm the obtained results.