Which of the following festivals is called the month of merits and is celebrated between May and June?

Saga Dawa

The correct answer is Option (1) → Saga Dawa

Saga Dawa is called the 'month of merits' and is celebrated between May and June. The festival commemorates the birth, enlightment and death of Buddha. On the occasion of Saga Dawa, people gather at the monasteries for prayers and offerings.