Not too long ago I read this tip on MacOSXHints.com. It talks about using a 3.5″ floppy disk to remove a stuck CD from a slot-loading optical drive. Since I couldn’t find a 3.5″ floppy, I got an idea after reading ericdsa’s comment.
Instead of a CD or DVD as ericdsa suggested, I used two credit cards (well, the same size, shape, and material as credit cards); one wedged below the stuck cd or dvd, one wedged above the stuck cd, applied tension, and voila!