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In a blender or food processor, combine olives, capers, garlic, orange zest and pepper. Cover and blend until chunky.
Trim fat from steaks. Cut each steak in half crosswise. Cut a pocket in each portion by using a sharp knife to cut horizontally through the steaks to, but not through, the opposite side. Spoon about 1 tablespoon olive mixture into each pocket. Spoon any remaining olive mixture over the steaks; rub in with your fingers.
Arrange medium-hot coals around a drip pan in a charcoal grill. Test for medium heat above pan. Place steaks on grill rack over pan. Cover and grill to desired doneness, turning once halfway through grilling. Allow 22 to 25 minutes for medium-rare (145°F) or 25 to 28 minutes for medium (160°F). (For a gas grill, preheat grill. Reduce heat to medium. Adjust for indirect cooking. Place steaks on grill rack over the burner that is turned off. Grill as directed.)