Preheat the oven. Preheat the oven to 400°F. Heat an oven-safe grill pan or cast-iron skillet over medium-high to high heat until very hot.
Prepare the steaks. Pat the steaks thoroughly dry with paper towels. Rub them with olive oil and season both sides and the edges with kosher salt and black pepper. If desired, wrap only the exposed ends of long bones in aluminum foil.
Sear the first side. Place the steaks in the hot pan and sear without moving for 3–4 minutes, or until a deeply browned crust forms.
Turn the steaks. Flip and sear the second side for another 2–3 minutes. Use tongs to sear the fatty edges for 30–60 seconds if needed.
Finish in the oven. Transfer the oven-safe pan to the oven. If your pan is not oven-safe, transfer the steaks to a preheated baking sheet or baking dish. Cook for approximately 5–12 minutes, or longer for very thick steaks, checking the internal temperature frequently.
Check for doneness. Insert an instant-read thermometer into the thickest part of the meat without touching the bone. For food safety, cook whole beef steaks to an internal temperature of at least 145°F.
Rest. Transfer the steaks to a clean plate or cutting board. Tent loosely with foil and rest for 5–10 minutes before serving.