An optical instrument, such as a riflescope, is disclosed having variable magnification. The reticle can include a stationary display element, such as a magnification scale displayed on a perimeter of the field of view. A moving display element, such as a scale indicator, may be coupled to an actuator that is used to change the magnification power. Both the moving display element and stationary display element may be visible in a field of view through the ocular and together can be used to indicate the magnification power, or a related parameter, such as the range or distance to a target. As the actuator is used to change the magnification power, the user can see the magnification adjustment in the field of view. Thus, the user does not need to look away from the field of view of the instrument to know the magnification setting.