Brush both sides of the steak with olive oil and then season with salt and pepper.
Cook the steak to an internal temperature of 105°F, about 40 minutes. Remove the steak from the grill, tent it with aluminum foil and let it rest for 10 minutes. Meanwhile, reconfigure the grill for direct high heat.
Grill over direct heat for 2-3 minutes per side. The ending internal temperature should be 120-125°F for rare, 130-135°F for medium-rare and 140-145°F for medium. Serve immediately.