Hi Kbet - welcome to the forum.
Your oil sounds fine to me. I wouldn't worry about it. Ideally, when the bike is switched off and on its centre stand, the oil level in the sight glass should be level with the small dot (red dot on my bike) in the middle of the sight glass.
It's entirely normal for the oil level to drop to the bottom of the sight glass (or even completely out of sight) when the bike is running. What's happening there as somebody earlier said, is that the oil is being pumped through the engine (pistons, bearings etc etc) when the engine is running - which is what it is supposed to do.
The sight glass is positioned on the sump which is the catchment area for all the oil when it is not running.
You
could have a situation where you have too MUCH oil (if the sight glass is entirely full with oil when the bike is switched off - how do you know how much further "up" the sight glass and above it the true oil level is.
Even this is not too serious and I would not worry about it.
Since you recently got the bike, how about an oil change old boy? ...

Then you can be sure she has nice new clean blood and you can also make sure of the levels...

Its easy to change the oil if you have the right tool, even if you don't there are "vays and means" - see elsewhere on this forum.
I did mine in 10 minutes flat.
Also, good idea to change the filter while you're about it - they are pretty cheap.
Also, frequent oil and/or filter changes (without being unreasonable or anal about it) are always a good thing which will give your bike great mileage before needing a new engine - it is the single most important and critical thing any owner of a vehicle should do to extend the usability of the bike, even if they do nothing else.
Also, on these bikes, it is even more important on the older bikes to avoid your sprag clutch "gumming up" (which ultimately means it will no longer engage properly and it will just spin when you hit the starter and your bike won't start!).
There are "vays and means" to "clean" your sprag clutch also (see elsewhere on this forum - its a common problem), but I decided to clean mine properly but I had to strip a large portion of the bike to do that which took a lot of time!
In summary, give her frequent oil changes and hopefully you will avoid lots of that potential heartache....

Regards,
Barry