First, adjust the fins (if you're throwing with your right-hand, rotate the ring clockwise. If you're throwing with your left hand, rotate the ring counterclockwise).

To get the most out of the Sonic Fin, you’ll want to release the Sonic Fin at an almost level angle with a slight upward tilt. This optimal angle will increase airflow through the hollow Gyroscope Core, resulting in a maximum distance throw.

Releasing the ball at a higher angle will result in an arcing trajectory similar to traditional footballs.
Throwing into the wind will limit how far your Sonic Fin travels.
Throwing with the wind will improve its performance and have it fly long distances.