[BigAlChicago]

Question 1-

I am thinking that this is a raise or fold situation. If you think the bettor is bluffing, you want the third player to fold his non-spade K or small flush. For this play to be +EV, we need to know the size of the pot and how frequently we think Caller 2 is bluffing. With a small pot and/or a low likelihood of a bluff, this would be clearly a fold. (We also should consider if Caller 1 would risk having his spade K checked around!) It looks like the pot is about 8 BB when you are put to this decision. Would caller 2 be bluffing at this more than 25% of the time? Perhaps. Although, I am thinking that this might be a smallish pot for this play.

Question 2-

Now it is about 11 BBs to you. Is Caller 1 bluff check-raising at least 10% of the time? Into a bettor and a caller, I wouldn't think so. As played, I fold this time around.