PostSparrow

HTML Code -

<select id="element">
     <option data-type="first" value="1">One</option>
     <option data-type="second" value="2" selected>Two</option>
     <option data-type="third" value="3">Three</option>
</select>

JQUERY Code -

Get Attribute Value

var AttributeValue = $("#element option:selected").attr("data-type");
console.log(AttributeValue);

Get Value

var Value = $("#element option:selected").val();
console.log(Value);