Heavy short interest + the stock is rising + options flow is bullish. Short sellers are getting squeezed.
A lot of money is bet on this stock going down, but price is moving up and the options market is positioned bullishly. Short sellers borrowed shares to sell them, and now have to buy back at higher prices — their buying pushes the price higher still, triggering more forced covers.
Forced buying is mechanical, not discretionary. When stock loans get recalled or margin requirements rise, shorts must cover regardless of fundamentals. Asquith-Pathak-Ritter 2005 document that the top-decile-shorted cohort in an uptrend earns material excess return over 30-60 days.
Squeezes can be violent both ways. If the thesis behind the shorts is actually correct (fraud, deteriorating fundamentals), the squeeze gets covered over a few weeks then the stock resumes falling. Confirm the move has support beyond short-covering — check earnings, insider activity, options IV.