Press down? Nothing’s left to peruse (5)

I believe the answer is:

tread

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'press down?' is the definition.
'tread' can be an answer for 'press'. I am not certain of the 'down?' bit.

'nothing's left to peruse' is the wordplay.
'nothing' becomes 'O' (O resembles 0).
'left' is a deletion indicator.
'peruse' becomes 'read' (I've seen this in another clue).
'to' with 'o' taken away is 't'.
't'+'read'='TREAD'

Can you help me to learn more?

(Other definitions for tread that I've seen before include "Gripping part of tyre" , "Top surface of a stair step" , "Sole of a shoe" , "Put one's foot down!" , "Trample" .)

I've seen this clue in The Times.

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