Well, the main things to look at are the plot, characters, and theme. The plot should have a clear beginning, middle, and end. Characters need to be well-developed and believable. And the theme is the underlying message or idea the story conveys.
The key elements in short story analysis include the point of view - how the story is told. Plus, the use of symbols and imagery can add depth. And don't forget about the story's resolution - how it all wraps up and leaves an impression on the reader.
When analyzing a short story, you should consider the setting, which creates the atmosphere. Also, pay attention to the author's writing style and how it contributes to the story's effect. Another important aspect is the conflict, which drives the plot forward.