[Todd Terry]

Squeezing a loose opener with a very tight range, and calling squeezes with a very tight range, which is what everyone is saying is the current state of the art online, is not a stable equilibrium. If people are only calling squeezes of loose openers with super tight ranges (and folding AQ is super, super tight), then squeezing ATC in spots like this is going to be hugely profitable. At some point an equilibrium has to be reached where the squeezing range is optimal against the opening and calling ranges, and vice versa. At this equilibrium, there is no way that folding AQ is the right thing to do. But if in fact people are only squeezing against a loose opener with {TT+,AK}, which is really surprising since it is so suboptimal (especially given the supertight squeeze calling ranges), then I guess folding AQ is right.