After you check everything, and if you don't find a problem, and you did add one of those $49 dress up kits with the valve covers/ timing cover,pointer,breathers,and aircleaner.....see if it were made in china.
If so, just for giggles.....get a stock ordinary junkyard dipstick from the same motor....and try it and see where the level is.
I've seen levels move like that but were usually cause by someone putting on one of these blocks that go into the side of the block to hold the dipstick or the side of the pan, you know, one of those kits, a change in oilpans, as was suggested....a extra-large oil filter... or a cheap dressup kit.
If your motor holds 4 quarts, a quart in the filter, you should be on the full. If you have a 5 qt motor, that'll be 6 qts should show fill. OH, if your running one of those cheap cheesy dressup kits, do yourself a favor,....run a normal dipstick in it...the chrome has a tendency to come off and fall into the oilpan. Why the hell the morons chrome the dipstick anyway????
And also check and make sure your dipstick tube is driven all the way in.....