Preheat the oven to 400°F (205ºC). Spray a wire rack with nonstick cooking spray and set it onto a rimmed baking sheet. Line the baking sheet with foil for easy cleanup.
In a large bowl, combine all of the meatball ingredients except the olive oil.
Using your hands, mix until fully combined. Shape the mixture into 1-½ inch balls. There will be about 20 meatballs.
Arrange meatballs on the wire rack and brush with olive oil.
Bake for 15-20 minutes or until the meatballs reach a minimum internal temperature of 165°F.
Meanwhile, in a small saucepan, melt the butter on medium-low heat. Once melted, whisk in the hot sauce, Worcestershire sauce, and garlic powder, until combined. Keep warm on low heat until the meatballs are ready.
When the meatballs are done, coat the meatballs in sauce either in the saucepan or using a basting brush to brush the sauce over top, rotating the meatballs until they are evenly coated.
Garnish with parsley and serve with blue cheese or ranch dressing (optional).