Allow the steak to come to up to room temperature. Place your cast iron skillet in the oven and pre-heat the oven to 500 degrees F.
Once the oven is at temperature, take out the skillet and place it on your range over high heat for 5 minutes. While the skillet is on the range, coat the steak lightly with oil. Sprinkle both sides with salt and pepper.
Place the steak in the skillet and cook for 30 seconds without moving it. After 30 seconds, turn the steak over and cook another 30 seconds. After this 30 seconds, place the skillet with the steak into the 500 degree oven for 2 minutes. After 2 minutes, flip the steak and let cook in the oven another 2 minutes. For a medium done steak, cook the steak in the oven for 3 minutes on each side.
Remove the steak from the skillet, cover with aluminum foil, and let it rest for 2 minutes, then serve