jQuery.Alternate Plugin

I recently required a light-weight unobtrusive javascript to set alternating styles on <table> rows and other elements (such as <li>s or <div>s). There are some options available, but most apply only to tables and are a little bloated for my needs. Since jQuery is my javascript library of choice, I created jQuery.Alternate (minified). It's my first jQuery plugin so it's a little rough. Feel free to make whatever changes you deem necessary (GPLv3). I'd also love to hear your comments!

CSS

<style type="text/css">
	.odd {
		background-color:lightgray;
		}
	.even {
		background-color:white;
		}
	.off {
		background-color:red;
		}
	.on {
		background-color:blue;
		}
	.hover {
		color:red;
		cursor:crosshair;
		}
	.selected {
		font-style:italic;
		}
</style>

#table_a

$('#table_a tbody tr').alternate({hover:true},function(){$(this).toggleClass('selected')});

header header header
cell cell cell
cell cell cell
cell cell cell
cell cell cell

#table_b

$('#table_b tbody tr').alternate({odd:'off', even:'on'});

header header header
cell cell cell
cell cell cell
cell cell cell
cell cell cell

#list_a

$('#list_a li').alternate();

#list_b

$('#list_b li').alternate({odd:'', even:'', hover:true});