Squeeze film damping is a dominant mechanism to examine the losses in the micro-opto-electro-mechanical systems. It plays an important role in understanding the dynamic performance of vertical-comb drive (VCD) microactuator. In the present paper, finite element method is used to estimate the Q factor and damping ratio at varying ambient pressures ranging from atmospheric (105 Pa) to vacuum (0.1 Pa) in COMSOL Multiphysics. The effect of ambient pressure on dynamic performance of the VCD is discussed in detail. Based on the applications, two different VCDs (VCD-L and VCD-SR) with extended micromirrors have been proposed in the current study for the manipulation of light. VCD-L having lower eigen frequency of 670 Hz can be used in laser and biomedical applications. VCD-SR with higher eigen frequency nearly 90 kHz has the potential use in a synchrotron radiation source. In addition, a parametric study is done to understand the performance of VCD for varying process parameters such as variable offset length among the comb fingers, spring dimensions, and orientation of single crystal silicon. For spring design, the von-Mises stress theory is preferred over maximum shear stress theory.