Create panel > Lights > Create a light. > General Parameters rollout > Select Advanced Ray-traced Shadows or Area Shadows. > Optimizations rollout
The Optimizations rollout provides additional controls for Advanced Ray-traced Shadow and Area Shadow generation.

On—When checked, transparent surfaces will cast a colored shadow. Otherwise, all shadows are black.
Note: Shadows will generate faster with this value turned off.
Antialiasing Threshold—The maximum color difference allowed between transparent object samples before antialiasing is triggered. Increasing the value of this color will make the shadow less sensitive to aliasing artifacts and improve speed, decreasing the value will increase the sensitivity, improving quality.
Supersampled Material—When on, only pass 1 is used during 2-pass antialiasing when shading a supersampled material.
Note: When off, rendering time can increase without resulting in a better image.
Reflect/Refract—When on only pass 1 is used during 2-pass antialiasing when shading reflections or refractions.
Note: When off, rendering time can increase without resulting in a better image.