Preheat oven to 350 degrees F (175 degrees C). Grease a baking sheet.
Place the rolled oats into a blender or the work bowl of a food processor, and pulse several times to grind them into coarse flour. Stir the oat flour together with whole wheat flour, salt, sugar, and cinnamon in a bowl. Pour in the water and olive oil, and mix to form a soft dough. Place the dough onto the prepared baking sheet, and roll out 1/8-inch thick. Using a knife, partially slice through the dough in desired shapes.
Bake in the preheated oven until just barely brown, 10 to 15 minutes. Watch carefully, as they burn easily. Allow to cool completely on baking sheet before breaking along score lines into individual crackers.