Using the selectedOptions property (HTML5) you can get the selected option(s)
document.getElementbyId("id").selectedOptions;
With JQuery can be achieved by doing this
$("#id")[0].selectedOptions;
or
$("#id").prop("selectedOptions");
The property contains an HTMLCollection array similitar to this one selected option
[<option value=?"1">?ABC</option>]
or multiple selections
[<option value=?"1">?ABC</option>, <option value=?"2">?DEF</option> ...]