Hold the lighter on it’s side, with your middle finger (or index) on the flint wheel (make sure it is touching the chimney, for some reason it works better this way) and your thumb on the back of the bottom case of the lighter. Hold the lighter out in front of you, with the chimney pointing away from you. Squeeze your finger and thumb, and the lighter should go flying straight at you, so you'll want to have your other hand at your chest waiting to catch it. Close it anyway you like.

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Mine doesn't quite work like that. Awesome trick to watch done right.