There should be a bullet shaped plunger with a round tang up through the spring. I use a piece of 1/8" pipe as a spacer to increase oil pressure. The springs get weak. Do not stretch the spring. I remove the spark plugs, oil the cylinders, put a pressure gauge in where the sender go's and crank with 12 volts with the intake manifold off.
The pressure you see will be the pressure driving down the road. You can change the thickness of the 1'8" pipe spacer to adjust the pressure. I start out with about a 3/16" long spacer. The same spacer applies to the bypass valve in the later oil pumps. G.M.