Transmission Fluid level Question

I just got my 1997 CV P71 yesterday. My tranny fluid is about an inch above the xxxxx marker on the dip stick. Dip stick says on it keep fluid level between marker on stick. Is this level when car is cold or after warmed up. I don't have a manual. Can I just drain a little out? If so, how much should I drain at first before checking level again? Please advise me.

Thanks,

Gary T

The leve is to be checked with the fluid warm (over 130*F) with the engine at idle in PARK on level ground.