Generously rub both sides of the steaks with salt and pepper. Let sit for 30 minutes or place in an air-tight plastic bag and refrigerate up to 24 hours.
Remove steaks about 30 minutes before cooking to bring them to room temperature.
Preheat a 12-inch cast iron skillet over medium-high heat. Add olive oil and butter and heat until it just starts to smoke.
Add the steaks to the skillet and sear for 4 to 5 minutes on each side or until the internal temperature is 5 degrees less than your desired temperature (for example, for medium-rare remove at 125 to 130°F.) See doneness chart below.
Place the steaks on a clean plate or cutting board. Cover will foil and let rest 5 to 6 minutes. The temperature will continue to increase a few degrees reaching your desired doneness (medium-rare 130 to 135 degrees F)
Kori's Tips
Don't miss all of our helpful hints, substitution ideas, cooking tips, and other delicious recipes that can be found in our post. Check it out!
VARIATIONS: Add more cayenne pepper to increase spice level.
TOP TIPS: Remove steaks 5 degrees less than your desired final doneness: the final cooking temperature for medium-rare is 130 to 135 degrees F, medium 140 to 145° F, and medium-well: 150 to 155° F