You could in theory "T" in an oil cooler line if so equipped .
The port on a SBC above the filter is tapped 1/4" NPT , the one behind the distributor is 1/8" NPT . BBC uses a 3/8" NPT above the filter and 1/4" NPT along the pan rails .
IMHO , all fluid temps (Oil , Trans, etc) should be measured in the sump , as that is the fluid that the engine (or trans , etc) will be using.
TOM
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