Cold calling in the SB?

[TMFS9]

I know there aren't too many situations in poker where you can you a concrete statement like always or never. But I can't think of too many situations where it would be correct to cold call an opening raise/steal raise from the CO or button and offering the BB 5:1 odds. I am currently watching a high limit game that was five handed (now 6 handed) where this was a common occurence. In what situation, if ever could it be correct to cold call in the sb?