[jQuery] Detecting the selected option

[Will]

I have a button (#showgraph) that submits a form, but when this
happens, I want a certain div (#overlaybutt) to appear only if a
certain value ('no') is present in one of the select options
(#initCond).

Here's what I have so far, which isn't working:

$("#showgraph").click(function(){
           // Only unhide the Overlay controls if Initial Conditions are set
to No.
                $("#initCond").change(function() {
                if (this.value == 'no')
                                                {
                                                                
$("#overlaybutt").show("slow");
                                                }
                                                return false;
                                });


                return false;
           });

How would I show #overlaybutt only if the value of the #initCond
select box is set to 'no'?

Thanks!