Deep optical imaging and spectroscopy of stellar objects in the radio
lobes of Cygnus A have been carried out. Brighter optical objects clos
e to the radio hotspots are either confirmed or suspected Galactic sta
rs. Very faint optical emission is found coinciding with hotspot D (R
similar to 23.1) and hotspot B (V similar to 25.4) The implications of
these observations are discussed in the context of a double twin-jet
model. In this model the radio lobes are assumed to contain a supermas
sive black hole each, and the twin jets emanating from the black holes
are responsible for the radio emission. Assuming that the compact X-r
ay sources in the lobes arise from the accretion disks, the level of e
xpected optical emission from the accretion disks is estimated. The pr
esent observations can rule out the model if the accretion disk is ext
ensive, but they are not sensitive enough to exclude a truncated accre
tion disk, such as is expected in the slingshot ejection process. An a
pproximate estimate for the cutoff frequency in hotspot D yields a mag
netic field that is close to values obtained by other authors using mi
nimun energy considerations.