Oil Dipstick question
 

I am not sure how/when to read the oil level on the dip stick. Is it to be read when cold (sitting level) or once the engine comes up to temp (i.e. a short drive etc.)?
I cannot trust the oil level gauge in my 04 Boxster S (due to various electronic gremlins). I have had the car a very short time
Any guidance or instructions would greatly be appreciated.