Proxys - Create Proxys Beside Original Media is Gone

[iwm_evan]

I hope I am not the only one that has this problem and hopefully someone has a solution. For some reason, the 'create proxies beside original media' option is no longer available when I create proxies for footage. This is what it looks like now... is there any way to go back? I tried installing several different older versions of premiere pro, what did I do? I've asked a couple Pro's and they say they still have the option and they're running the newest version of Premiere.