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Welcome to JS Bin
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<!DOCTYPE html>
<html>
<head>
<script class="jsbin" src="http://code.jquery.com/jquery-1.7.min.js"></script>
<meta charset=utf-8 />
<title>JS Bin</title>
<!--[if IE]>
  <script src="http://html5shiv.googlecode.com/svn/trunk/html5.js"></script>
<![endif]-->
<style>
  article, aside, figure, footer, header, hgroup, 
  menu, nav, section { display: block; }
</style>
</head>
<body>
  <select>
    <option value='1'>first</option>
    <option value='2'>second</option>
    <option value='last'>last</option>
  </select>
</body>
</html>
 
$(function(){
  var lastOptionValue = $('select > option:last').val();
  alert(lastOptionValue);
});
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