In terms of exhaust flow direction:
After the turbine before it enters any catalytic converter.
On top of the pipe if it is horizontal to the level of the road so moisture doesn't fall on the sensor.
NOT before the turbo because of high exhaust pressure and temps that will burn the sensor out early.
All this is listed in the information that came with my wideband bTW.
Former owner of '99 CSVT - Silver #222/2760
356/334 wHP/TQ at 10psi on pump gas!
See My Mods
'05 Volvo S40 Turbo 5 AWD with 6spd, Passion Red
'06 Mazda5 Touring, 5spd,MTX, Black