Remove the thin membrane from the back of each rack of baby back ribs and pat them dry. Rub olive oil all over the ribs and mix kosher salt, black pepper, smoked paprika, garlic powder, and onion powder in a bowl. Sprinkle generously over the ribs.

Preheat your oven to 300°F (150°C). Arrange the ribs bone-side down on a foil-lined baking sheet, cover with foil, and bake for 2.5 to 3 hours until tender. For smoking, preheat to 225°F (107°C) and smoke for 5-6 hours, misting with apple juice every hour.

In a saucepan over medium heat, combine honey, diced jalapeños, apple cider vinegar, soy sauce, brown sugar, Dijon mustard, and crushed red pepper flakes. Simmer for 10-15 minutes until thickened, then stir in butter until melted.

Once ribs are tender, remove from heat and brush the glaze over them. Broil on high for 3-5 minutes or grill until bubbly and slightly charred.

Let the ribs rest for about 5 minutes, then slice between the bones, serving warm with remaining glaze drizzled on top.