Start the trade 45-50 days before option expiration day. If volatility is increasing go for the shorter time in the trade, If volatility is decreasing look at being in the trade longer. Collecting at least $1.00 per short on each the short side of the Iron Condor at 4.5 strikes plus from the current price. (As IV gets lower the open days will increase.)
A trade's short strike is in possible trouble when the value of that short strike is 1.5 times its original value ( $1.00 income current value $1.50). When this happens you want to consider increasing the trades width. Buying a 1/2 Back Ratio. This will increase the trades margin and value, rolling as far as possible, with additional income (the current short is 1.50 adjust to a strike that is valued of .75 or greater). The full position can be rolled, but at least 1/3 of the position should be rolled at this time. If one third is rolled the next third is rolled at 1.75 with the final third at 2.00.
If a third strike role of a trade's side becomes necessary, check the charts to see what is going on. You should consider closing this side and look for a possible reentry later in the trade.
This is just one way of doing the trade. You can also buy or sell futures contracts (/CL or /QM). These are the are the quickest way to collect 1000 to 500 deltas, plus or minus. (You will not have 1000 barrels of oil dropped in your front yard a week or so after the future expires.)