So I have the following piece of HTML:
var length = $('#sel option').filter(function() {
return $(this).text() === "Option1";
}).length;
if(length == 0)
console.log('This option text doesn't exist.');
else
console.log('This option text exists ' + length + ' times.');
If length is 0, it doesn't exist. I typically don't like using contains, because it's not an exact match.