The single junction SQUID was previously shown by analysis and simulation to be an attractive candidate for a parametric amplifier. Further calculations of the noise and saturation behavior of the nearly degenerate parametric amplifier have now been performed by numerical simulation. These simulations clearly show that the amplifier noise temperature will be approximately the device temperature T
0, and that the amplifier will be completely saturated in the presence of white noise characteristic of 30T
0. Signal saturation of the amplifier also occurs for an output power

, strongly limiting the dynamic range, However, a coherent array of N single junction SQUIDs is shown to have a signal saturation level increased by N relative to a single SQUID, with no increase in noise temperature, resulting in an N-fold improvement in dynamic range.