Stem extension Denied

[Jinesh]

Hi,
I have initially sent my stem extension packet on JAN 31st. The I765 form which I have sent initially was outdated and they sent back the whole packet. I have received the packet on FEB 16. My initial opt was expired on FEB 15. I resend the packet but due to weekend and holiday, it was delivered on Feb 20. Today MAY 15 USCIS denied my case due to not submitted in time. My employer said they will file an MTR.
1. what are chances of getting MTR approval
2. Do I have any grace period to join another college?

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