Add the rolled oats to a blender. Blend on high until it is the same consistency as baking flour.
In a medium pot, bring the water to a boil. Slowly add the oat flour to the boiling water while stirring (this keeps it from clumping). Stir until thickened (which doesn't take long, it cooks almost instantly).
Top with anything you want, my favorite is to simply top with brown sugar. If you want the oatmeal to be a thinner consistency, just use more water than directed.