how long has it been since the oil was changed? it looks like it's either REALLY cold where you are, or the oil is WAAAAAAY past due to change.
the oil should not V like that. since you are in Cary, I'm going to say the oil is past due to change.
anyway, on the V reading, pull it back out, clean it again, and set it back in the tube and wait 1 minute. then take another reading. it should show what your level is, IF YOUR CAR IS PARKED LEVEL.
if the front is downhil, it'll read high, if it's up it'll read low.

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John HAUL AWAY, OR CRUSHED CARS!!! HELP ME keep the cars out of the crusher! A/C Thread
"as I ride with my a/c on... I have fond memories of sweaty oily saturdays and spewing R12 into the air. THANKS for all you do!

My drivers:
1987 190D 2.5Turbo
1987 560SL convertible
1987 190D 2.5-5SPEED!!!

1987 300TD
2005 Dodge Sprinter 2500 158"WB
1994GMC 2500 6.5Turbo truck... I had to put the ladder somewhere!