Kpetrey,
In an Iron Condor, the higher put strike and the lower call strike are the sold ones. You will always receive a credit to begin with when you set up an Iron Condor properly and receive a fair price for it. Your first iron condor is not set up correctly.
Also, I'd like to make a small recommendation. I believe that the strikes should be at least 10 points apart, and 15-25 is even better. There was an extensive discussion of this on the SPX credit trader thread, but my experience is that there are a couple of advantages to going a bit wider than 5 points. The bid-ask spreads on SPX are quite wide and going to a wider spread helps to obtain more credit per spread, lowering the commission costs somewhat. Note that I am not recommending that you increase the overall margin requirement, just saying that you should use fewer, but wider spreads. If you are looking at 5 point spreads, the difference between the natural (the price at which you can get a guaranteed fill at very unfavorable prices) is extremely high relative to the credit received. This means that under fast market conditions, you may have a favorable movement going your way, but have a miserable time finding the exits.
