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Why do the Colts only have 52 players on the active roster?

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Tuesday the Colts cut LaJuan Ramsey to make room for John McCargo who had arrived via trade from Buffalo. McCargo failed his physical causing the trade to be voided, returning him to the Bills. Since the failed physical yesterday the Colts roster has an empty space. After the trade fell through the most likely move to fill the spot was to sign Ramsey back. As a player with less than 4 years of NFL service LaJuan Ramsey has to pass through waivers when cut. The period for waivers last 24 hours, meaning Ramsey would have cleared and been available to re-sign yesterday, he hasn't been. So what are they doing with that roster spot? Two possibilities stick out.

1. They are going to use that roster spot for Tyjuan Hagler coming off the PUP this week. Phil B expects this move. The roster spot has stayed open because they didn't want to sign a player to the roster just to practice with the team for a day. The Colts have yet to activate Hagler from the PUP, likely because they aren't sure if he's ready to play. Hagler said earlier in the week that he does not expect to start Sunday.

2. The Colts are in the process of working out another free agent player. Lots of guys we've never heard of out there and one we have.