My tested iron condors

I'd close, but I also wouldn't have opened those.

I used to swing trade credit spreads a while ago, but not as much anymore. At 50 delta on the short calls though, I’d personally stop thinking of these as “being tested” and start thinking about how much more risk you’re willing to take. Having 28–41 DTE left doesn’t necessarily help if SPX keeps trending against you. I’d probably close or reduce rather than turn it into a bigger management project here. Maybe ask yourself one question — if you had no position right now, would you open these ICs at the current strikes/prices? If the answer is no, I’m don’t know if “there’s still time” is a good enough reason to stay in them

Not an iron condor expert here, I’m just playing around with them too to learn. What I do in this case, is close the wing that’s in profit and then roll the other wing to a new iron condor for a credit. If there’s still more than 3 weeks to expiry and the margin requirements allow it, I try to keep the same date and widen the wing width necessary. If it’s close to expiry, I roll it out and sometimes I can reduce the wing width.

I dunno, up to you really I'd just close the 28 day honestly or let my spx spread do their thing. I don't personally really sit there and manage them, but I have in the past rolled up the puts or just added contracts on the put side. Like, individual stocks I can just break the structure and roll the short put if I want and reset to a jade lizard (if my assumption is bullish) but obviously not on SPX.

Don’t people like to parrot that August and September are usually down months? You could just hold and pray.