Cutrone spent last season on loan at Empoli after struggling to convince at Molineux and still has a year left on his contract with Wolves this summer.
He has no future at the Midlands club and his representatives have been sounding out clubs about his availability.
The 24-year-old is available for a move and his camp are trying to drum up interest in the forward in the ongoing transfer window.
And it has been claimed that Rangers are amongst the clubs who have been offered the Italy forward this summer.
The Scottish giants are not actively looking to sign a goalscorer at his stage of the transfer window.
However, that could change if Morelos leaves and a decision on his future has not been finalised yet.
Any move for Cutrone would heavily depend on whether Giovanni van Bronckhorst would be ready to sell the Colombian this summer.
Aston Villa, Leicester and Besiktas are amongst the clubs who are interested in signing Morelos at the moment.