I have been in the SR range for top 500 (open queue) for 2 days now, but I still dont have the tag for it. I played more than 50 games and I have sms protect.
What is the problem?
Normally when we see this it is due to people not having played the required 25 games after enabling SMS on the account.
If you have recently enabled SMS on the account then please continue to play games until you hit the 25 required.
You may also want to check out this post for additional information.