With his side leading 1-0, Ward had the chance to give the Sky Blues a comfortable first-half lead but chipped his shot tamely straight at the keeper.
Freddy Eastwood - who had a 100 per cent record at Southend - and Clinton Morrison would appear to be favourites to replace him should Coleman decide to act.
The Sky Blues manager told the Coventry Telegraph: "I can honestly say there was nothing I found funny about that penalty.
"Big Elliott has got to go up there and smack that ball as hard as he can, like he normally does.
"I have watched Wardy since he was a kid and he is playing the best football of his career, and if there is a flaw in his character, it is that sometimes he can be a little bit dingly-dangly, a little bit too confident, hence the penalty.
"When he's on it, is aggressive and plays with anger, the penalty is in the top corner.
"When he strikes a ball like he can he would take the keeper with it as well, but that wasn't a good penalty and he's better than that."



