Never use 550 in hammock suspension. It stretches too much and can't hold the weight. You are actually putting more stress on it than 550 lbs. Look at the amsteel stuff, or go to a climbing store and buy either 4 mm static line or 5 mm static line.
5mm line

By the way, the stuff in your picture looks like amsteel.


Edited by finallyME (02/08/16 10:36 AM)
_________________________
I've taken a vow of poverty. To annoy me, send money.