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It's a small hole on most of them, Ford factory ones have a check ball too, on the thermostat itself. It's automatic. These trucks are not prone to air pockets under the thermostat. It might get a little warm the first time you start it after replacing the thermostat but when it opens it will let the air out. It's in the heads mostly and it will work itself out after just one or two warm up and cool down cycles after you had the system open. This is one reason it's important having a good radiator cap that is the proper pressure. They go bad a lot more than thermostats but noone ever notices it.
You guys rely on the factory gauge too much. It's not any kind of accurate measurement. Just learn where it is normally for your truck and that is normal. If it gets too high or too low compared to it's own norm then look for a problem. Don't go looking for one based on where someone elses gauge is sitting. It does not matter.
Rezvani's Latest Post-Apocalytic Monster Is a Ford F-150 Raptor Underneath
Slideshow: Called the Fortress, the 850-horsepower pickup combines Raptor underpinnings with military-inspired features, survival equipment, and a starting price of $285,000.