Just for kicks I bought a couple of strip steaks from ALDI today, they are only about 1/2 inch thick.
I got the iron skillet real hot, put salt and pepper on both sides of the steak. Then added 2tbsp of EVOO and some minced garlic to the pan. Made sure it was as hot as it was gonna get, then added both steaks and cooked for exactly 5 minutes on each side. The steak ended up medium, so I would reduce the cooking time to 4 minutes each side for medium rare and 3 minutes per side for less. This is on a gas stove.
They were still juicy and good, but I like pink thru the middle of my steak.