Combine salt, pepper and olive oil, rub evenly over roast. Place roast on a wire rack in an aluminum foil-lined roasting pan. Bake at 450° for 45 minutes, reduce oven heat to 350° and bake 45 minutes or until a meat thermometer inserted in the thickest portion registers 145° (medium rare) or to desired degree of doneness.
Remove from oven, cover loosely with aluminum foil and let rest for 20 minutes before slicing. Serve with Au Jus or Horseradish if desired.