Upon beginning the step, you need to have your paper aligned as it is in the first picture. To start, fold the corner down to to edge of the bottom of the folding and mark the edge as pictured. Then repeat on the other side. After these are folded down, unfold them. Pull the paper open and then fold the paper back into and over itself as shown.
It is now time for you to fold the wings. First, fold the airplane in half along its center line. Afterwards, fold the wing down from about 1 inch above the center line (make sure you don't fold the landing gear with it). Repeat on the other side.
On this step, you cut the winglets. Cut both winglets about center between the leading edge and the the trailing edge. Precision on where you cut is not as important as cutting each of the wings equally. Once they are cut, fold the front winglets up, and the rear winglets down.
Your Strike Owl is now ready for the nice stable flights. Enjoy!
To launch, pitch the aircraft down slightly and throw with moderate force.