trying to upgrade to the latest version 5.5 using putty/cli
esxcli software profile update -dError: Invalid option –profile=ESXi-5.5.0-20160904001-standard –profile=ESXi-6.0.0-20150504001-standard
What you posted doesn't seem to really match!? You're saying that you're trying to upgrade to the latest v5.5 profile, but the command contains a v6.0 profile, and the error message is about v5.5 which hasn't been specified!? In addition to this, it also seems that the command was copied from an application with an auto correct feature, which replaced the dash (in front of "profile") to a special character.
esxcli software profile update -d https://hostupdate.vmware.com/software/VUM/PRODUCTION/main/vmw-depot-index.xml -p ESXi-5.5.0-20160904001-standard
PS: adding --dry-run to the command line will show you what's going to happen without installing anything.