Generously season the tri-tip with my Santa Maria Tri-Tip Rub or your favorite rub. If you wish, double the cayenne pepper. Place the roast in a ziplock bag (or wrap in plastic) and refrigerate overnight, or for a few hours.
Bring the tri-tip to room temperature. Preheat your Traeger grill to 225° F. Use super smoke if you have that option. Place seasoned tri-tip roast directly on the grill and insert a probe into the thickest part. Set the probe temp to 135° F. When the internal temperature reaches 135°F, remove the tri-tip from the grill and wrap it in foil.
Turn the Traegers temperature up to 450° F. When the grill is ready, place the tri-tip back on the grill and sear for 3 to 5 minutes on each side, depending on how well you want it cooked.
Allow the smoked tri-tip to rest, tented, for 10 to 15 minutes so that the juices redistribute throughout the meat. To serve, slice the meat thinly against the grain.
Notes
I decided not to trim the excess fat off the tri-tip. However, you can trim it if you'd like or trim it off once the tri-tip is smoked.
Instead of adding the dry rub directly on the tri-tip, you may want to brush the tri-tip with a light coating of olive oil first to help the seasoning stick to the roast better. If you do this, you will not need to brush the tri-tip with oil before searing it.
When seasoning the brisket, spoon it over the meat without touching the meat to avoid cross-contamination. You'll want to save the remaining rub for another use.
It should take somewhere between 2 to 2.5 hours to smoke the tri-tip.
Use a meat thermometer to check the temperature, making sure not to smoke it past 145° F so that the roast stays moist and tender.