I guess I would define "peg"...

...if the needle "pegs" when the ignition is switched on the accessory mode but the engine has'nt been started, then you need a new oil pressure sender...about $60-70 and a 15-minute under-the-car job with a short crescent wrench.

__________________
2009 ML350 (106K) - Family vehicle
2001 CLK430 Cabriolet (80K) - Wife's car
2005 BMW 645CI (138K) - My daily driver
2016 Mustang (32K) - Daughter's car