Step 1: Simplifying the expression.
We use the identity for the tangent of a double angle:
\[
\frac{\sin 2x}{1 + \cos 2x} = \tan x
\]
Thus, the equation becomes:
\[
y = \tan^{-1} (\tan x) = x
\]
Step 2: Derivative of \( y \).
Since \( y = x \), the derivative of \( y \) with respect to \( x \) is:
\[
\frac{dy}{dx} = 1
\]
Step 3: Conclusion.
Thus, the value of \( \frac{dy}{dx} \) is 1, corresponding to option (A).