Preflop: with the game being loose/aggressive, I think the 1st caller may think he has a decent chance of getting raised behind. Maybe he has the Button or Cutoff as one who will pop it pre with decent hands. So, he could be holding AA, but because of the loose dynamic of the table, I'd think he'd raise with 99/KK, no? I don't like my KK hands getting beat by A5o!
Anyway, I'd cap the next 2 callers' pair ranges at 22-TT. Then you have all those SCs & 1 gappers. 2 gappers?
I would guess the Button wants to juice up the pop pre for some reason. I don't see why he'd do it with a pair, but I don't know the guy. The Button could be sittin' on AA, thinking you wouldn't raise to $15 UTG w/o JJ+ & that maybe you'll 3-bet. That's a helluva' risk for him though.
Pre, calling & folding to a substantial raise from one of the other 3 players, caps your range for the Button now, if it doesn't get raised. It puts him in a much better position, knowledge wise, as well as having absolute position.
But what else can you do OOP? Playing this hand will be like landing a Cessna 172 with a 13 knot crosswind.
You can call, or, you can raise pre to $110 & GII to a 4-bet. That's a sick idea. Or, you can call & look for a bingo flop.
If you call the min-raise, nobody raises, and the flop comes K72r; it's checked to the Button, he can scoop the pot with the same hand you have, or worse.
I think the standard play is to call & see a flop, looking for a reaction from my opponents.
J
8
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flop & I'm betting 125% of the pot & am committed.