Traore is contracted at the Molineux Stadium until the summer of 2023 and attracted interest from Tottenham Hotspurs this summer as former Wolves boss Nuno Esperito Santo tried to take him to North London.
The 25-year-old remains a key component of Lage’s plans and has featured in all their six Premier League games this term.
"I don’t know anything, what I know is the club want to make a new contract with him," Lage said. "From what I can see every day, Adama is happy to stay here and happy with his team-mates.
"Sometimes these kind of things take time and I think in the end it will be good for both. I’m very happy with what we have in our wingers because we have the competition we want and the players with a different profile.
"A player like him is very important. He’s a good guy and knows what he needs to improve.
"He’s working hard to improve his inside game. He started the season very well and I’m very happy with what he’s doing at the moment."
Traore joined Wolves from Middlesbrough in the summer of 2018.
The former Barcelona academy product has won eight caps for Spain but has not been included in Luis Enrique’s latest La Roja squad for the upcoming Nations League finals.
