Ranocchia played in Inter's 3-3 draw against Parma yesterday but hasn't always been guaranteed a starting spot for the Nerazzurri this term.
There have been suggestions that Chelsea boss Jose Mourinho is an admirer of the 25-year-old and is looking to bring him to Stamford Bridge, possibly as early as January.
And according to Spanish newspaper AS, Inter could be open to a deal that involves David Luiz travelling in the opposite direction.
Mourinho doesn't appear to see the Brazilian as a key figure in his squad after some high profile errors and it is widely accepted that Luiz will leave the club as soon as he gets the chance.
However, the swap deal could be complicated by reported interest from Spanish giants Barcelona.
If Barca were to step in with a cash offer for Luiz in January, the player may insist upon joining them.
image: © Ben Sutherland