A♠Q♠ Facing a 3-Bet, what do you do here?

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DECISION POINT:
In a Tournament where blinds are 800/1600, the first Middle Position player raises and the MP2 player 3-bets. If folds around to you in the Small Blind with A♠Q♠ and action is on you. What do you do here? 

PRO ANSWER: This is a fairly tough spot preflop. Calling is not a very attractive option since we will be OOP (out of position) against both players.

In addition, the 3-bet is small enough that the initial raiser will almost always at least call if we flat-call from the SB and seeing the flop 3-ways OOP will make it much harder to realize our hand's equity.

In general, cold-calling 5+BB raises or reraises when out of position is going to be a losing play in No Limit Hold'em. We should typically reraise or fold in spots like this one.

Continued below...

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Reraising preflop will be the best play if the MP2 player is 3-betting a decent frequency. If our opponent is not and we believe their range is narrow, then we should simply fold.

However, against an opponent with a reasonably wide 3-betting frequency, 4-betting will the most profitable line.

Reraising is the best play. 

How would you play it?
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