Preheat your oven to 400°F (200°C).
In a large bowl, combine the buffalo sauce, olive oil, garlic powder, onion powder, smoked paprika, salt, black pepper, and cayenne pepper (if using). Mix well.
Add the chicken thighs to the bowl and toss until they are evenly coated with the sauce mixture.
Arrange the coated chicken thighs in a single layer on a baking sheet lined with parchment paper.
Bake in the preheated oven for 25-30 minutes, or until the chicken is cooked through and reaches an internal temperature of 165°F (74°C).
For a crispy finish, broil the chicken for an additional 2-3 minutes, watching closely to prevent burning.
Remove from the oven and let rest for 5 minutes. Garnish with chopped parsley before serving.