It's right at the second from the top long index mark of the ramp, so if you wanted to use a slightly lower ramp or insert on the front sight, you could, but, I'm shooting 350gr bullets at approx 1500fps and hitting point of aim, so I wouldn't use too much lower front sight. It also depends on your stock comb height, If I had a straight stock, I'd probably want the rear sight a bit lower on the ramp, but I have a laminated wood stock which is just right the way it is now....and just an FYI, the comb height of the monte carlo stocks is not the same for all Handi rifles, when I was swapping stocks on this rifle, the original stock off another Handi was way too high for me to look thru the peep aperture, comparing this stock to that one, there was approx 3/8" difference in the height, so H&R has changed their stock design sometime.
Tim