This is how I cook my steak, and I like it rare. I usually get a very good steak cooking it this way.
1. Leave out of fridge for about 15min.
2. Put stainless steel pan in oven, turn oven to 500F.
3. Rub the steak with kosher salt and black pepper, or a steak spice.
4. Lightly oil both sides of the steak. I use peanut oil for it's high smoke pt.
5. Turn on stovetop to about 8-9. Take out pan from oven once it reaches 500F. Put on hot stove.
6. Wait a few seconds for the stove to heat the pan up more.
7. Place the steak in the pan, searing for about 40-70sec.
8. Turn and sear the other side (if it doesn't release easily, sear a few seconds longer). It tends to smoke a lot, so I have the fan going, and take the pan off the stove around 40 sec and old it under the fan. Takes a few more seconds for most of the smoke to stop.
9. Turn, and place in the hot oven. For a steak that's 1.5", I'll leave it in there for about 2.5-3 min. Less than 1" and I won't go past 2 minutes max.
10. Turn steak and cook for another 2.5-3min.
11. Put it on a plate (I flip it before putting it on, not sure if that's necessary) and cover semi-tightly with foil. Sometimes I will put some butter on top of the steak for the last 20 seconds or so while it's in the oven, then I don't turn before plating.
12. Let rest for 5-7 min.
Voila, perfect rare steak!
