Yeah it's very small adjustments...
You'll want to turn it to bottom the plunger rod until it bottoms out. With peg lowers installed you prob won't be able to adjust it low enough without sawing off about a 1/4". I did this on mine, but eventually removed the peg lowers because I did not like how soon they scraped. Don't for get to adjust the rear brake like switch too otherwise the brake lights will be on without even pressing the pedal.