Is this low reading normal? worried it has me

Hey guys! so i was driving today and my oil gaauge read REALLY low as seen in pic. is this normal when it first starts up it goes to about the halfway position then as you drive it gets lower but it never got this low. im just worried is this normal? also my engine ticks like its low on oil or something but when i pull the dip stick it reads to about 3/4 the way to max. any ideas are helpfull thatnk you

Could be a bad gauge or sending unit or an engine problem. I would remove the sending unit, attach a diagnostic mechanical gauge, get the engine thoroughly warmed up and get reading at idle and at around 2K to 2500. If you get acceptable readings, then either put in an aftermarket gauge or a new OP sensor. The ticking is not good thing. What weight oil are you using and how long has it been in there?

i just bought it a month ago and did a oil change as soon as i got it. used full synthetic. did not tick when i first got it

5w 30

I'd also like to have this car is the 260-375 hp range

10W-30 is the factory recommendation.
Here is some good reading on HP for these engines:
http://turbotbird.com/techinfo/Mods/Mods01.htm

so should i drain my 5w 30 and put 10w in instead?

To keep it short -tThe first number basically just tells you how much the oil thickens when it cools down. At running temp there is no difference between 0w-30, 5w-30, & 10w-30. I run 0w-30 myself.

i run 15w40 in the summer.
my factory oil gauge never read correctly. after i installed a autometer gauge the autometer read 45 hot when my factory guage read about what yours does.
alos my coolant gauge (factory) reads below the white durning normal driving autoemter says 195-200, and goes up halfway thne th efan comes on. autometer says 215-225.

my 87 is differnt then my 88 are coolant gauge reading.. they arnt accurate.

i run 5w30 synthetic blend in my 87 TC, no problems so far. If you switched to synthetic and it's had conventional its whole life there's a possibility you've developed a leak somewhere. Have you noticed any oil spots in the driveway? I doubt that's your issue as you're showing oil on the dipstick. Keep in mind though that the oil gauge doesn't really reflect how much oil you have, but the oil pressure and as with these older sensors they tend to fail after time (Knock Sensor, i'm looking at you!)

If you know how to hook up an autometer or a diag gauge, by all means do it. If you're a mechanical novice/intermediate (i would put myself somewhere in between) and do not really know how to hook these up, i'd have it looked at by a mechanic before putting any real mileage on it, especially considering the ticking.