A double hilt may be standard on models with sawteeth, but a single hilt can be ordered on many models that come standard with double hilts.

If you look at the the various models in the "Knives Of The Week - Models #1-#28, you can find a number of models, standard with double hilt, custom made with single hilt.

The knife you asked about has six options, although one is a non-chargeable option, the squared hilt. The other five chargeable options are: sawteeth, nickel-silver hilt-single, black micarta, border patrol handle, and wrist thong,

"does NS1+SQH (as-pictured) count as one, two, or three options?" One chargeable option & one non-chargeable option.

"NS1 (nickel-silver hilt-single counts as one chargeable option.
"SQH" should have been "sqh" (squared hilt) and counts as one non-chargeable option. Non-chargeable options by virtue of their name do not count toward the five chargeable option limit.

One can order, for example, a model with:
five chargeable options (ST, NS1, BM, WT & BPH)
two non-chargeable options (sqh [squared hilt], & all-red spacers (or all black)
two chargeable sheath options, black and left-handed
AND one non-chargeable sheath option: no-hone sheath.

The only options that count for the five-option limit are the chargeable options to the knife.