Wolves have set their summer transfer priorities, which include a focus on selling key assets.
The wide forward is a sellable asset who can help to fund a recruitment drive for manager Nuno Espirito Santo.
Traore could have been sold for £60-70 million last summer, but his stock has fallen and he is likely to fetch closer to £30 million in the coming transfer window.
He has not been able to agree a new deal with the club and will be down to the last two years of his contract at the end of the season.
Traore only has one Premier League goal and two assists this term, in 30 appearances.