We present a simple theory explaining the extraordinary features of high-contrast optical gratings in the near-wavelength regime, particularly the very broadband high reflectivity(>99%) and the ultra-high quality factor resonances (Q>10(7)). We present, for the first time, an intuitive explanation for both features using a simple phase selection rule, and reveal the anti-crossing and crossing effects between the grating modes. Our analytical results agree well with simulations and the experimental data obtained from vertical cavity surface emitting lasers incorporating a high contrast grating as top reflector. (c) 2012 Optical Society of America