cold called on button with KQo after CO opens

[joop]

Last night I was playing 3/6 on Party and found myself on the button with KQo... the CO, (who was around 40/7, with very low ASB, but high WTSD) open raised... both blinds were very loose (around 50% VPIP) and not aggressive and would likely call his raise with a wide range of hands, but not my 3bet... so I cold called. Was this the correct play, or should I have just 3bet? Or folded right there.

Thanks.