1/ Seems the WSB strategy that is working well is two-fold:

a) Identify high short interest stocks
b) Find ones with (or create) high open interest

This forces two groups' hands:
1) Short sellers
2) Options market makers

Can be a very effective way to force buying

2/ Regarding the 'short squeeze' on short sellers, I think that part is fairly well covered.

What may be less understood is what rapidly rising prices on high OI stocks does to options market makers

3/ Without going into all the greeks, we'll focus on 'delta', which is basically the imputed odds (from IV) that an option will be in the money. So if a stock is at $10, a $15 call may have a delta of 25-30 or so, roughly meaning stock has 25-30% chance of going to $15

4/ When a market participant buys this $15 call, a market maker sells it to him, which effectively makes him "short" that stock.

To hedge, he "delta hedges", meaning he doesn't buy 100 shares at $10 on a $15 call, he buys the 'odds-adjusted', or 'delta-adjusted' amount

5/ In this case, he'd buy 25-30 shares. As the stock rises, the delta increases, forcing him to buy more shares to keep the position "delta-neutral". If stock goes to $15, delta is going to be in the 50-60 range, so he has to double his position, adding buying pressure

6/ That continues as price continues to rise, which only further squeezes anyone short, inducing even more buying activity, and pushing the deltas on OI calls even higher, requiring more buying

7/ Similarly, if a stock is heavily shorted via puts, market makers are short puts, which forces them to sell stock to hedge. As stock rises, delta of the puts decline, so they need to be short less, again, forcing buying from market makers

8/ I was a clerk on the floor of the Chicago Board of Options Exchange in 1999-2001 and had to memorize Sheldon Natenberg, hence this stream of thought. Violent price action like this easily wipes out smaller market makers that lack strong risk controls