How to access/read the LABEL value

System

Hi there!
How to read the LABEL attribute value within a <option> tag using formAPI?
I'm able to get the VALUE attribute value with:
var ship_item = IWDatacapture.getItem("/shipname");
var ship_item_options = ship_item.getOptions();
var ship_item_SelectionIndex = ship_item.getValue();
var ship_code = ship_item_options[ship_item_SelectionIndex].value;

Is there a way to access/read the LABEL value similar to the one above?

Thanks!

Paulo Gouveia