Don't be tempted to undercook the asparagus; the stalks should be tender and bend slightly when held in the center.
Trim and peel tough ends of asparagus stalks. Fill a large saute pan with 1/2 inch cold water; bring to a boil over high heat.
Place asparagus in saute pan, working in batches if necessary, and cover tightly with a lid or foil. Let steam until asparagus is tender and slightly limp, 3 to 4 minutes. Transfer to a serving platter; drizzle with olive oil, and season with salt and pepper. Serve.