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1
Heat a 12-inch cast-iron skillet over high heat until very hot, about 3 minutes.
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2
Meanwhile, thoroughly pat the steaks dry with paper towels.
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3
Lightly coat each side of the steaks with canola oil and sprinkle generously with salt and pepper.
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4
Add 1 to 2 tablespoons canola oil to the skillet (this will help create a great crust on the steaks) and add the steaks.
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5
Do not crowd them; if you cannot leave room between the steaks, use 2 skillets.
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6
Without moving them, cook the steaks 3 minutes.
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7
Using tongs, flip them and cook 1 more minute for rare, 2 more minutes for medium rare or 4 more minutes for medium.
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8
Transfer the steaks to a plate and cover loosely with foil.
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9
Let rest at least 5 minutes before cutting into them.
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10
Pour out the used oil from the skillet and add a glug of new oil.
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11
Reduce the heat to medium.
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12
Add the shallots and garlic to the skillet and cook until they just begin to brown, 3 to 5 minutes.
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13
Add the beef broth, Worcestershire sauce and sherry vinegar and bring the sauce to a boil.
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14
Cook until reduced by half, 3 to 5 minutes.
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15
Turn off the heat and whisk in the butter until it has melted and the sauce has thickened.
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16
Stir in the olives, if using.
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17
Put each steak on a plate; spoon the sauce over the top and sprinkle with chives.
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18
Photograph by Anna Williams
