Caption text options, why is there no option for the percentage of transparency?

I wanted to inclued captions in a silent video, but I was really frustrated with the lack of options for the text in the captions and graphics panel. You can choose text color and background color and thats it. If you want the background to be transparent the option is hidden way at the bottom and then you only get one level of transparency, you cannot change the percentage of it at all, and it is barely visable. 

The opaque option is to harsh for the video I'm working on but the transparent option is to faint to be able to see the text on most clips. I need to have the control to change it to my preference. 

Why is this not an option anymore? It was in previous versions of premeire pro.