Trade it: Stocks that win on oil's free fall

A pump jack and pipes at an oil field near Bakersfield, California.
Lucy Nicholson | Reuters
A pump jack and pipes at an oil field near Bakersfield, California.

Oil prices plunged to their lowest level in more than 11 years Wednesday, removing a floor for a commodity that's already down 29 percent in the past three months.

After a spike in gasoline inventories last week and the prospect of more oil production coming from Iran and Saudi Arabia, many traders said the bottom for crude won't come anytime soon.

With oil in free fall, trading at around $34 per barrel, where could investors place some bets?

Using Kensho, a quantitative tool that aims to replicate historic market events, CNBC Pro found the top-performing names when oil prices fell by at least 10 percent over a month — such a move occurred in 29 instances in the last decade.