Are you checking it at operating temperature, after giving it a few minutes to drain down (BMW says 5 minutes)? If so, the oil will run back down in to the oil pan.

Wipe the entire dip stick off, then check it again. You are seeing oil in the dip stick tube.

You appear to be concerned about it being overfilled. If so, the most likely addition would be water, and then the oil would not be translucent or straw coloured, but rather milky coloured. Is the colour normal?

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2007 X3 3.0si, 6 MT, Premium, White

Retired:
2008 535i, 6 MT, M Sport, Premium, Space Grey
2003 X5 3.0 Steptronic, Premium, Titanium Silver
2002 325xi 5 MT, Steel Grey
2004 Z4 3.0 Premium, Sport, SMG, Maldives Blue