A pragmatic and balanced approach might be the optimum ?
Special divvy is a given as is a healthy fully imputed final in my opinion. In my view the market is looking through that to determine the operating environment for FY17 and beyond which explains the SP correction. (Witness Cathay Pacific's comment yesterday that yields are under intense pressure...that's the environment we are now in).
Shares are value at this level but I remain of the view that having a sensible sized allocation to AIR as part of a well balanced portfolio is the way to play this with possibly a small trading strategy augmenting that holding stratagy.
Each to their own though and if some people want to go a long way out on a limb with the size of their holding they do so of their own volition and good luck to them.
Some might say fortune favours the brave but I would say where angels fear to tread... I won't go either.