Season steak liberally with salt and pepper. Set aside.
Preheat oven to 350ºF
Over high heat let your cast iron skillet get extremely hot. When you splash a little water on the pan it should sizzle and evaporate almost immediately.
When your cast iron pan is hot, drizzle 1 tablespoon of canola oil (or any oil that has an extremely high smoke point) into the pan. Place steak in the pan and set a timer for 2 minutes.
When 2 minutes is up, flip the steak and let cook for another 2 minutes.
Transfer pan into oven and let cook for 4 minutes.
Your steak will be cooked to a beautiful medium rare. Transfer the steak from the cast iron skillet to a cutting board, tent with aluminum foil and set aside to rest for 5 minutes.
After the steak has rested, slice into 1”-2” cubes and set aside.