Hero would and should play AA exactly this way. His story absolutely makes sense. However, villain probably thinks hero would play Ax this way too. I like the 3bet bluff with KTs into a CO raise and btn call. The flop is dreadful for your 3! range. You clearly missed it. I'd consider checking the flop because villain will call with almost his entire range (pp/sc/AK). Villain may call down multiple streets with an overpair, a set, or even AK. I don't think there's anything wrong with giving up after your preflop bluff when you're oop on a terrible board.

If you do bet the flop, I'd commit to triple barreling. As played, you don't have any choice but to continue the bluff and bet at least 2/3 the pot. All the draws missed and most one pair hands will fold. Every 7x and JJ- hand has trouble calling a river bet.

I may be misusing the term here, but I think hero's range is capped.
I also think that V2 called V pre with an implied odds hand, which is the range that hits this flop hard.
V2 is not calling flop/turn leads from hero's hand, without being able to beat a pocket pair.
If you bet/shove with only $420 effective, with the pot now $680, I think this is exactly what V2 wants; i.e. the only way this works for hero is, if the river is Qs. That is why V2 called the 2-streets.

*grunch* I didn't notice what hole cards you had and as I read through I just thought your line was FOS. looks like you're just putting your opponent on hands you think he should fold and then firing. at best it's a value line with AA but feel like you have a ton of bluffs on this board. if you're going to just barrel away w naked KT here, then you need to be 3barreling like every 1 pair hand as well.

seems like this line only works against flush draws and maybe like 44, but I would guess the majority of vills range here is pairs 10 and under. if you get looked up in this spot, I would be inclined to want to value bet a little wider. still not sure why he calls flop and turn and folds river with anything but missed spades.

3! KT out of BB :-( I'd limp if stacks were 40x pfr. Fold now.

dont like the 3 bet oop. if i were to do it i would make it $80 or $90 oop but i wouldn't do it with a hand that's dominated a lot oop.

oop i probably just give up a lot on this turn but given read if you're going to bluff bet bigger so you charge the drawing hands that would actually fold to a turn bet after calling flop. you're pricing him in too much and now you're in a tough spot on the river. if he calls your big turn bet you can check/fold river easier.

river is a shove as played. i think most hands would fold including 88 99 1010 jj all missed draws etc.

tricky spot stemming from 3 bet pre oop.

This brings back memories for me. Thanks OP.

I was playing in a juicy 2/5 several years back. I had a tight image. I raised 65 in EP and got called in two spots, one an out of towner LAG otb.

Flop: 842
Bet, button calls.

Turn: 2
Bet, button calls.

River: K
3 barrel, button calls.

Villain shows 77 and scoops the pot.

What did I do wrong? How does he call me down?

+1. Crazy how only 2 ppl mention that out of like 30 posts.