In a medium size bowl combine the butter and chocolate chips. Microwave on high for 30 seconds. Stir it all together not all the chips will be melted. Return to microwave for 30 seconds. Stir again. Continue until all the chocolate chips are melted. Add the oats and the peanut butter. Stir until all the ingredients are combined.
Take a large spoon and drop the cookie batter onto the wax paper. Leave out on the counter for 30 min to set up.
Once they are stable slide the wax paper onto the cookie sheet and refrigerate for 2 hrs.