If the select box has the same values for value and text, you can get the value for the 2nd select using eq() and val() like this:
console.log($("select option:eq(2)").val());
<script src="https://cdnjs.cloudflare.com/ajax/libs/jquery/3.3.1/jquery.min.js"></script>
<select>
<option value="Apple">Apple</option>
<option value="Orange">Orange</option>
<option value="Banana">Banana</option>
<option value="Pineapple">Pineapple</option>
</select>
If the select has numeric values and text, you can get the text "Banana" using eq() and text():
console.log($("select option:eq(2)").text());
<script src="https://cdnjs.cloudflare.com/ajax/libs/jquery/3.3.1/jquery.min.js"></script>
<select>
<option value="0">Apple</option>
<option value="1">Orange</option>
<option value="2">Banana</option>
<option value="3">Pineapple</option>
</select>
And in case you want to get the value of the option with the text "Banana" you can do this using filter():
console.log($("select option").filter(function () { return $(this).html() == "Banana"; }).val());
<script src="https://cdnjs.cloudflare.com/ajax/libs/jquery/3.3.1/jquery.min.js"></script>
<select>
<option value="0">Apple</option>
<option value="1">Orange</option>
<option value="2">Banana</option>
<option value="3">Pineapple</option>
</select>