跟風問一下，希望三心大俠能看到

I cannot do put spread (IRA account, with only level 1 permission). If I buy to open put at 410, and then neen to do another transaction to buy it back (maybe a limit order at 370, e.g.). If the stock price falls between 370 and 410, then the only difference with a put spread would be I have to have enough cash for the limit order? Is this understanding correct?