I would drain the transmission pan - not the whole fluid contents, just the pan as Volvo does for 740s. (I never had a 240 but that is what the dealer did to our 740s every 30K.)
Then get the exact instructions for measuring transmission fluid level or -
Drive the car for 15 minutes to so then stop and pit the lever in every position a minute or so, then pull the transmission dip stick to check the hot level. Top off the fluid a little and recheck to avoid over filling.
As the other poster mentions, assuring proper fluid level is a good idea before tearing the car apart.
BTW - Have you been servicing the transmission as Volvo recommends?
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