Your master link is flared fine. The chain is too tight... You did take out one link too many. You can't add a second master or other link to add it back in, you do need a new chain. That being said you do have a little slack, and they do stretch a little in the first 500miles or so. Depends on how you ride, if your a wheelie guy or you push the bike hard enough in the corners to work the suspension I'd replace it. If its a daily driver I might just ride it for a week or two and see if it does stretch any.