This question is probably not very relevant, and will probably not work with our new Standard player. Also Flash is becoming a non recommended technology. It is kept here for reference.
Yes, you can add exactly that parameter: “&wmode=opaque”. This will solve your problem.
<iframe class=”streamio-player” type=”text/html” width=”497″ height=”280″ src=”http://streamio.com/api/v1/videos/4eb3ac8611581e0a710002c3/public_show?loop=true&skin:show-share-button=true&streamio:tracker=global&wmode=opaque” frameborder=”0″></iframe>