Preheat oven to 375 F. Cream butter and sugars in a large mixing bowl; add eggs and vanilla. Beat until fluffy. Mix flour with soda in large bowl, add oats and toss to coat. Add to butter-sugar mixture a cup at a time until completely mixed. Stir in peanuts and chocolate chips. (Batter will be stiff.) Drop from a teaspoon onto a cookie sheet. Bake for 10-12 minutes. Makes 6 dozen.