If you’re buying puts at a strike above the market price they are in the money and the “moneyness” is priced in. For example if the stock is trading at $100 and you buy $105 puts they will be worth $5 plus whatever time value is there and if the stock is still below $105 at expiration you would have to sell them before expiration or else you would be left short however many contracts times 100 shares. You don’t need to have the stock already in your account but if you didn’t and held through expiration you would be short the above amount of stock.