Well, with jQuery and the use of selectors, you have a means to access any element on the page and the attributes of those elements. It's there, you just have to get it!
But you've made things rather difficult for yourself by choosing to populate the "values" with URLs. There's a reason why most developers use simple integer values for select values. They are easy to work with and versatile.
If you were to use an integer, you can use it as an index value. You can use the index to offset into an array of URLs that you define in the JS code, and, then of course, you can easily test the integer value.
If you prefer to keep the URLs in the DOM rather than in an array in JS code, you could put the URLs in data-attributes, which you could easily find using a selector and the numerical index.
I should point out, though, that you don't really need to access the text at all, since you have everything you need in the URLs. Simply do a regex test on the URL value. Just pick out the "action" value from the URL and test on that instead of going off and finding the text.