Does anyone else think that the MPOR should be substantially higher, given the big March loss?
Or rather, why is a repeat of that loss unlikely if that's the case?
Be careful, most people who are answering and giving you advice in this thread are making money when you lose money.
If these "most people" trade MPOE options, then yes, it's true. My own personal investment was on both sides - both bonds and call options, and together I came out with some profit.
As to why the loss is unlikely or not. Because the bonds cover BTC/USD options, it is clear there is a loss when the price shows big volatility(and options profit). In March price went up more than 3x, beyond even highest 75$ strike offered then. It's up to investors to assess likelihood of something like this to happen again.
BTW, as everyone can write options on MPEx, we're pondering some diversification to not rely solely on MPOE's own trading bot, but add other implementation(s) as well that may be better tuned to limit investors' exposure. If this succeeds, will be properly announced when next batch of MPBPT is issued. But one needs also to consider that biggest exposure - 68k BTC - was provided by Mircea Popescu, of which he admitted 15k loss. Competing traders won't have this last resort backing.