I make a batch of chex mix every new year's eve, in a 15 inch cast iron skillet.
While there are many variations of the recipe, here's how I make it:
1/4 cup butter (half stick)
4 tsp Worcestershire sauce
seasoned salt, onion powder, garlic powder
9 cups Chex cereal (corn, rice and wheat)
1 cup Planter's peanuts
Preheat a cast iron skillet at 250. Melt butter into the skillet.
Add Worcestershire sauce, seasoned salt, onion powder, garlic powder; Mix well.
Add cereal and peanuts; mix until it's all coated. Sometimes I omit the peanuts.
Bake at 250 for 1 hour, stirring every 15 minutes.
Prepackaged chex mix doesn't hold a candle to hot, freshly baked chex mix.