OP on Low Flop with Gut Shot Draw

[pokerbo]

Button is very loose, played nearly every pot so far, his flop percentage is 55% and his stack has been up and down like a yo yo.

Party Poker (9 handed) .50/1 NL Hold'em

FTR converter on zerodivide.cx

Preflop: Hero is MP2 with T[img]/images/graemlins/club.gif[/img], T[img]/images/graemlins/heart.gif[/img].
<font color="#666666">4 folds</font> Hero Limps, Button Raises 1BB, Small Blind calls, Big Blind calls, Hero Calls.

Flop: 6[img]/images/graemlins/club.gif[/img], 8[img]/images/graemlins/spade.gif[/img], 9[img]/images/graemlins/diamond.gif[/img] <font color="#0000FF">(4 players)</font>
SB checks, BB raises 5BB, Hero Calls, Button Raises to 15BB, SB Folds, BB calls, Hero Raises 40BB, Button Calls, BB Folds

Turn: 3[img]/images/graemlins/spade.gif[/img] <font color="#0000FF">(2 players)</font>

Sorry but for some reason convertor never seems to work for me, I deleted (Texas) and set to 2+2 but still no joy??

Anyway regarding the hand, what would be your next move on the turn, the pot is now $114 and we both have $80 left, I'm completely lost here as villian/button is such a loose player.

It seems to me that he's on a draw, but could easy be trapping with an already made straight??