Check this to find out for your self.
Note higher is better (OPS/Sec = operations per second = how many times per second the given code executes)
And the test winner in every other browser than Opera:
var form = document.createElement("form"),
$form = $(form);
form.action = options.action;
NOTE:
the native method will be even faster if you don’t need a jQuery object:
var form = document.createElement("form");
form.action = options.action;