title: jQuery check what option is selected
body: <p>If I have this code: </p>
  
  <pre><code>&lt;td class="field-type"&gt;                  
       &lt;select id="id_virtual_as_set-0-type" name="virtual_as_set-0-type"&gt;
         &lt;option value="M"&gt;M&lt;/option&gt;
         &lt;option value="AI" selected="selected"&gt;AS I&lt;/option&gt;
         &lt;option value="D"&gt;D&lt;/option&gt;
         &lt;option value="P"&gt;P&lt;/option&gt;
         &lt;option value="A"&gt;A&lt;/option&gt;
         &lt;option value="R"&lt;/option&gt;
       &lt;/select&gt;      
  &lt;/td&gt;
  </code></pre>
  
  <p>And I wish to find out <strong>which option value is selected</strong>, how can I do this via jQuery? Also the issue is that I have a handle on the <code>&lt;td&gt;</code> element and I want to be able to access the <code>&lt;select&gt;</code> from the <code>&lt;td&gt;</code> element and then check what the selected option is.</p>