The 22-year-old has had a difficult season on-loan from Barcelona, with only three goals and one assist in all competitions.
Reports in Portugal have suggested Trincao has already agreed a move to Sporting next season, but with Wolves holding a £25million option on him, Lage insists the club are yet to make their decision on his future.
“We need to discuss this and now is not the right moment,” Lage said. “We will wait until the end of the season to try and understand everything.
“He’s not our player and has come on loan and we need to try to understand everything in the contract.
“It’s not about outside opinion, it’s about our opinion about what he did and how he’s grown up during the season.”
Meanwhile, Lage has laughed off any suggestion of a bust-up in the Wolves dressing room.
Social media rumours following the loss to Brighton claimed there had been a falling out between Lage, Jonny Castro Otto and Raul Jimenez in training. Lage was unable to be questioned on this following those rumours as he tested positive for Covid-19, however goalkeeping coach Tony Roberts quashed them.
Now, Lage has also dismissed those suggestions and believes rumours will always surface when a team is in bad form.
“Me and the boys laugh about that – I don’t have any problems with anyone,” he said.
“The first two thirds of the season there’s no problem, when you lose the rumours and the problems happen.
“If you go to church for rumours for Man City you will not find them. If you go to church for rumours for Man United you will find one rumour every day.
“This is football, it’s about winning and losing.
“I don’t have any problems here. I’m saying good things about these players and the people in the building since the first day.
“If we have (a problem) we talk face to face and finish it.
“Nothing happened, but if something did happen it’s something that is finished with a good talk.
“But I can promise you nothing happened with players.”