The line opened today at Baylor -3.5 and has swung all the way to ISU -2.5. That's a whopping SIX point swing towards the Cyclones on the first day of betting. What that means is that there's a lot of money being put on Iowa State in this match up.
I'm not an expert on sports betting, but you don't see that kind of one-sided betting this early unless the so-called "sharps", the people who bet regularly and tend to win more than they lose, are pretty sure about a game. You don't put down that kind of money unless you're reasonably confident.
It's important to note that this isn't a game with a lot of national significance where you can expect a bunch of people to bet early without really knowing what they're doing. It's also highly unlikely that betting from Cyclone fans is the reason for the point swing. ISU doesn't exactly have an over confident fan base and most of us see this as a huge game that could go either way. This is clearly a case of the sharps seeing the line and believing that ISU was undervalued.