I have the same issue.
We're in Somerset, south west United Kingdom, and our Air Bnb property has 10 bedrooms and sleeps 23 - 25. We're convenient accommodation for the Glastonbury Festival - a five-day music event in June that attracts some 250,000 visitors over the 5-day period, in this rural part of the UK which has a chronic shortage of hotels and visitor accommodation. Our pricing for Glastonbury Festival week, therefore, is considerably higher than other weeks of the year, given the huge demand for accommodation during that week in June.
At the moment, my Cancellation Policy is "Strict" all year round due to the difficulty of re-booking a property of this size when the original booking is cancelled at short notice. However, for Glastonbury week in June, I would like to upgrade to "Super-Strict", to avoid losing ££££ on a cancellation which occurs just seven days prior to the Festival.
I think it's important that Air Bnb introduces this function asap.