correct way to check the oil
If your vehicle has an oil dipstick, (some newer cars don't) I always check first thing in the morning, when the car is cold, engine off, pull the dipstick and look at both sides, the lower side is the actual level. Keep it between the cross hatching. Most manufacturers will say, check after 5mins of stopping the car and it's pretty accurate.
He's right, wait for drainback. some cars take much longer for definite accuracy nowadays.
One thing to add....check the oil level while the vehicle is on level ground. Parking on an incline (like some driveways), will cause the dipstick reading to be inaccurate.