Let's see.... First read millis(), which is a monotonically increasing integer value (well, more often than not) - 1, 2, 3, 4, 5, 6....
Divide that by 150, producing another integer value
Pass that integer value to sin(), which takes a single argument, which is an angle expressed in radians - 2*PI radians == 360 degrees.
So...
For millis() anywhere from 0 to 149, this reduces to sin(0), which == 0
For millis() anywhere from 150 to 299, this reduces to sin(1), which == ~0.84
For millis() anywhere from 300 to 449, this reduces to sin(2), which == ~0.91
For millis() anywhere from 300 to 449, this reduces to sin(3), which == ~0.14
For millis() anywhere from 300 to 449, this reduces to sin(4), which == ~-0.76
....
Look familiar?
It really helps a lot to read the documentation for a function, and look at some examples, so you understand HOW it works, before using it.