just a smidge larger than the die... 5.5 is waaaaaay too much fabric..
I agree get a silver sharpie and outline the die of they are not two toned.. and even if they are grab a ruler and mark 1/8 outside the blade to use a s reference. if you line your fab with that line you have enough.. Just remember the more layers you add the more likely the fabric will 'slide' so until you know how your machine reacts use 2 then 3 then 4 layers to make sure you're still cutting accurate..