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 temperature to 350°, and bake 45 minutes or until a meat thermometer inserted in thickest portion registers 145° (medium-rare) or to desired degree of doneness. Remove from oven, cover loosely with aluminum foil, and let stand 20 minutes before slicing. Serve with Fluffy Horseradish Sauce. Garnish, if desired.